Michael Saylor
MicroStrategy buys Bitcoin worth $458m, total holdings hit 252,220 BTC
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2 hours agoon
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adminMicroStrategy has purchased more Bitcoin, with the company announcing it had acquired an additional 7,420 BTC.
On Sept. 20, MicroStrategy announced it had completed its $1 billion convertible senior notes offering. The company planned to use the proceeds to buy more Bitcoin (BTC).
Hours later, Michael Saylor, the company’s founder and chairman, revealed that the firm purchased Bitcoin worth over $458 million. According to details filed with the U.S. Securities and Exchange Commission on September 20, 2024, MicroStrategy acquired the additional BTC at the average price of $61,750 per BTC.
MicroStrategy, an artificial intelligence-powered cloud analytics firm that’s currently the largest public holder of Bitcoin, also announced it achieved a total BTC yield of 5.1% quarter-to-date and 17.8% year-to-date.
MicroStrategy at $5.9 unrealized Bitcoin profit
The latest purchase brings the company’s total holdings to 252,220 BTC, up from 244,800 BTC.
Since it first acquired Bitcoin in August 2020, the Michael Saylor-led company has spent approximately $9.9 billion to add BTC to its balance sheet. This includes the recent addition of 18,300 BTC for $1 billion.
These assets have been acquired at the average price of $39,266 per BTC, meaning the company’s unrealized profit stands at over $5.9 billion. In August 2024, Saylor disclosed he has $1 billion in personal BTC holdings.
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business
MicroStrategy Buys Additional $489 Billion Worth of Bitcoin
Published
1 hour agoon
September 20, 2024By
adminMicroStrategy CEO Michael Saylor announced on September 20 that it has purchased an additional 7,420 bitcoins for approximately $489 million. The company now holds over 252,000 Bitcoin, acquired for $9.9 billion.
BREAKING: MicroStrategy buys another 7,420 #Bitcoin for $458.2 million. pic.twitter.com/4nBm3EUH6M
— Bitcoin Magazine (@BitcoinMagazine) September 20, 2024
Since 2020, MicroStrategy has adopted a Bitcoin-focused corporate strategy, taking advantage of Bitcoin’s potential as an inflation hedge and store of value. The company has accumulated over 252,000 bitcoins worth more than $15 billion, substantially increasing shareholder value.
MicroStrategy has borrowed money by issuing convertible senior notes to fund its Bitcoin purchases. It recently raised over $1 billion through note offerings, partly to acquire more Bitcoin. Other public companies have emulated this “buy Bitcoin” corporate strategy to take advantage of Bitcoin’s growth.
MicroStrategy’s Bitcoin treasury purchases are like a large-scale “speculative attack” against fiat currencies. By exchanging fiat for scarce bitcoin when it is undervalued, the company could reap enormous returns if bitcoin continues appreciating as a global digital store of value.
The company is undertaking the largest speculative challenge against fiat currency in history by adding the most resilient asset to its treasury. Other public companies are beginning to emulate MicroStrategy by implementing Bitcoin treasury strategies and gaining Bitcoin exposure on their balance sheets.
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Bitcoin
MicroStrategy Announces $700 Million Raise To Redeem Senior Secured Notes and Buy Bitcoin
Published
4 days agoon
September 16, 2024By
adminMicroStrategy, a leading business intelligence and Bitcoin development company, has announced a proposed private offering of $700 million in convertible senior notes, due 2028. The offering will be made to institutional buyers under Rule 144A of the Securities Act. The company also plans to grant an option for purchasers to buy an additional $105 million of the notes.
The notes will be senior, unsecured obligations of MicroStrategy, bearing interest semi-annually and maturing in September 2028. Holders of these notes may convert them into cash, shares of MicroStrategy’s class A common stock, or a combination of both, at the company’s discretion. Conversion terms will be determined at the time of pricing.
MicroStrategy intends to use the proceeds to redeem all $500 million of its existing 6.125% Senior Secured Notes due in 2028. The remaining proceeds will be allocated to acquiring additional Bitcoin.
“On September 16, 2024, MicroStrategy issued a redemption notice pursuant to which the Senior Secured Notes will be redeemed on September 26, 2024 (the “Redemption Date”) at a redemption price equal to 103.063% of the principal amount, plus accrued and unpaid interest, if any, to but excluding the Redemption Date (approximately $523.8 million in the aggregate), with the redemption of the Senior Secured Notes contingent on the closing and settlement of the sale of the notes,” MicroStrategy stated. “Upon redemption of the Senior Secured Notes, all collateral securing the Senior Secured Notes, including approximately 69,080 bitcoins, will be released.”
The offer is subject to market conditions, with no guarantee on the timing or terms of completion. The notes will not be available for public sale, maintaining private status under the Securities Act.
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Bitcoin reserve
MicroStrategy Buys Additional $1.11 Billion Worth of Bitcoin
Published
1 week agoon
September 13, 2024By
adminMicroStrategy announced it had purchased 18,300 Bitcoin for $1.11 billion, boosting its total holdings to 244,800 BTC acquired for $9.45 billion.
BREAKING: MicroStrategy buys an additional 18,300 #Bitcoin for $1.11 billion. pic.twitter.com/qhMg5EOqUF
— Bitcoin Magazine (@BitcoinMagazine) September 13, 2024
The business intelligence firm, led by Bitcoin bull Michael Saylor, has been steadily accumulating Bitcoin as part of its corporate strategy since 2020. MicroStrategy’s latest billion-dollar purchase was conducted at an average price of $60,408 per Bitcoin.
According to Saylor, the company has achieved a 17% Bitcoin yield year-to-date, capitalizing on BTC’s appreciation as it continues borrowing fiat at low interest rates to expand its holdings.
At current prices, MicroStrategy’s Bitcoin trove is worth over $15 billion, greatly benefiting shareholders. The company’s stock price has surged in tandem with its Bitcoin accumulation.
Despite rough market conditions in 2024, MicroStrategy continues compounding its Bitcoin position for the long term. The firm treats Bitcoin as a superior treasury asset compared to cash that is subject to inflationary debasement.
MicroStrategy is executing the biggest speculative attack on fiat currency in history by acquiring the hardest money for its treasury. Other public companies are following MicroStrategy’s lead by adopting Bitcoin treasury policies and acquiring Bitcoin exposure on their balance sheets. However, MicroStrategy remains the largest corporate holder of Bitcoin in the world.
By harnessing underutilized capital to capture Bitcoin’s upside, MicroStrategy has moulded itself into an emerging Bitcoin development company that is powering the worldwide adoption of Bitcoin.
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