MicroStrategy announced it would raise the private offering of convertible senior notes to $1.75 billion, as they acquire $4.6 billion Bitcoin to holdings on the same day.

According to the company’s official statement on Nov. 18, MicroStrategy is raising funding to buy more Bitcoin in the future through private offerings that qualify as institutional buyers. The number of offers is up to $1.75 billion with a convertible senior note due on December 1, 2029.

The notes were sold for U.S. buyers with Rule 144A under the Securities Act, and available for certain non-U.S. buyers with Regulation S under the same act. Additionally, the funding is not only used for acquiring more Bitcoin but also uses for general corporate purposes.

Initial purchasers of the notes would have an option to purchase an additional $250 million aggregate principal amount of the notes. MicroStrategy would propose the notes offering on Nov. 19 on video webinar.

MicroStrategy allowed the notes to be converted into their class A common stock, cash, and a combination of both. The latest time they offered the same notes was on September 20, 2024.

MicroStrategy acquires $4.6 billion Bitcoin on the same day

Executive chairman Michael Saylor in his X post on Nov. 18, announced the company acquired 51,780 Bitcoin, or equivalent to $4.6 billion. The average price of the Bitcoin is $88,627.

This acquisition doubled the previous buying and now they spend $16.5 billion in Bitcoin. As of Nov. 17, the company’s acquires 331,200 Bitcoin, or equal to 1,57% of the total Bitcoin supply.

MicroStrategy’s average Bitcoin price now is around $49,847 or 47% below Bitcoin’s all-time high of $93,477. They also have an unrealized profit of up to $13 billion.

Since the company based in Tysons Corner, Virginia announced the Bitcoin acquisition for the first time in 2020, the share has risen to 2,400% from $15 to $384 today.

US-based crypto exchange Coinbase just launched a new benchmark index for tracking the digital assets market.

In a statement, the publicly-listed firm says the Coinbase 50 Index (COIN50) is a regulated benchmark representing the 50 largest crypto assets on its platform that meet the fundamental criteria for token economics, blockchain architecture and security.

To qualify for entrance into the index, the assets must not be pegged to other digital assets, must have most of their token supply in public circulation and must not have any known security vulnerability. 

“The Coinbase 50 Index, rebalanced quarterly, is a market cap-weighted index of the top 50 assets that meet the index’s criteria. Traders can use the index to track the performance of the broader crypto market and benchmark their returns.”

The exchange says that while the Coinbase 50 Index currently covers around 80% of the crypto market cap, the plan is to launch a significantly broader index as the market grows and diversifies.

“This path sets the foundation for our indices to evolve alongside the industry, ensuring they provide critical price discovery and remain a comprehensive benchmark for the cryptoeconomy.”

Eligible institutional and retail users can now trade the index via a COIN50 perpetual futures contract on Coinbase International Exchange and Coinbase Advanced albeit the contract is not available to traders based in the US, UK and Canada.  

The exchange says it is exploring more ways to provide traders exposure to the index. 

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Healthcare startup Semler Scientific has doubled down on its Bitcoin (BTC) acquisition agenda by purchasing a new batch of the coin. According to an announcement, the firm has purchased 215 Bitcoin units valued at $17.7 million.

Semler Scientific Bitcoin Bet and Stock Boom

As disclosed by the firm, it acquired this new stash between November 6 and November 15 and paid an average price of $82,502 per Bitcoin. This purchase price also includes fees and expenses.

Semler Scientific launched its Bitcoin acquisition campaign in May. At the time, the company bought a $40 million worth of Bitcoin as it looked to adopt MicroStrategy’s Bitcoin playbook. Since then, the health tech firm has made other massive BTC purchases to boost its bag. Earlier this month, it increased its BTC holdings to 1,000 units as reported by Coingape.

Following the latest acquisition, Semler said its Bitcoin yield has now jumped 18.9% from October 1 to November 15. At the moment, the firm’s total Bitcoin holdings is now pegged at 1,273 BTC with a total yield of 37.3% since it started acquiring the coin.

Semler Scientific chose to buy this latest Bitcoin at a time the price of the coin is trading at its highest level. BTC price recorded multiple All-Time Highs (ATHs) last week as all holders became profitable.

The Semler Scientific Bitcoin strategy is notably paying off as the company’s shares has also jumped remarkably. Following the latest update, the firm’s shares on the NASDAQ exchange jumped by 10.36% to $49.09. With investors embracing SMLR due to its exposure to BTC.

MicroStrategy and Metaplanet In the Same League

Besides Semler Scientific, MicroStrategy and Metaplanet are also advancing their BTC acquisition strategies.

Per an earlier Coingape report, MicroStrategy bought 51,780 BTC for $4.6 billion. This pushed the firm’s total bag to 3331,200 BTC, which it acquired for $16.5 billion at an average price of $49,875 per bitcoin.

Metaplanet also revealed recently that it plans to issue bonds to buy additional Bitcoin. Per its plan, it hopes to raise as much as $11.3 million for this purchase.

As market analysts noted, the massive institutional embrace of the coin is helping to fuel the surge in the price of BTC. At the time of writing, the coin has seen its price jump by 1.2% in 24 hours to $90,411.04. With heightened volatility, the coin has traded from a low of $88,741.66 to a high of $92,194.35.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.