- MicroStrategy has acquired additional BTC for hundreds of millions.
- The development followed a billion-dollar BTC purchase by the company last week.
- The company said it funded the fresh acquisition with proceeds from its $1.01B debt offering.
Business intelligence firm and corporate Bitcoin holder MicroStrategy has bolstered its multibillion-dollar BTC holdings with a fresh acquisition worth hundreds of millions.
The new acquisition came a week after the publicly traded company bought another 18,300 Bitcoins for approximately $1.11 billion in cash between August 6 and September 12, elevating its total holdings to 244,800 BTC.
MicroStrategy’s Latest Bitcoin Purchase
According to a U.S. Securities and Exchange Commission (SEC) filing on September 20, MicroStrategy has acquired an additional 7,420 Bitcoins for about $458.2 million, or $61,750 per BTC, inclusive of fees and expenses.
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The development follows the company’s disclosure earlier Friday that it had completed a $1.01 billion private offering of convertible senior notes due 2028, with a 0.65% coupon and about 40% conversion premium.
The company said it would use $523.8 million of the offering’s net proceeds to fully redeem its $500 million senior secured notes due 2028, which are expected to be finalized on September 26. It will use any of the balance to fund additional Bitcoin acquisitions and general corporate purposes.
In the filing, MicroStrategy clarified the additional BTC was bought using proceeds from the offering.
MicroStrategy’s founder and executive chairman, Michael Saylor, confirmed the news on X, noting that the company had achieved a BTC yield of 5.1% QTD and 17.8% YTD. Per Saylor, MicroStrategy now holds 252,220 Bitcoins acquired for $9.9 billion, or $39,266 per BTC, making it the largest corporate holder of the original cryptocurrency.
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