MicroStrategy Acquires More Bitcoin, Now Holds Over 1% of Total Supply

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2024/03/19/microstrategy-acquires-more-bitcoin-now-holds-over-1-of-total-supply/ on 2024-03-19. Article ID: SD1845T8bc0b188. Author: Violet Vallaya. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2024/03/19/microstrategy-acquires-more-bitcoin-now-holds-over-1-of-total-supply/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

MicroStrategy, the world’s largеst corporate holder of Bitcoin (BTC), has acquired an additional 9,245 bitcoins for apрroximately $623.0 million.

The business intelligence company purchased 9,245 BTC using funds from a recent offering and additional cash. The notes used for this purchase had a total principal amount of $603.75 million, with $78.75 million exercised by initial purchasers within a 13-day timeframe.

The completion of this transaction on March 18 primarily involved private offerings to qualified institutional buyers under Rule 144A of the Securities Act of 1933, according to a new filing with the U.S. SEC today.

As of March 18, 2024, the company’s Bitcoin holdings have a total book cost of $7.53 billion, with an average purchase price of $35,160 per coin, according to MicroStrategy co-founder Miсhael Saylor.

MicroStrategy has acquired an additional 9,245 BTC for ~$623.0M using proceeds from convertible notes & excess cash for ~$67,382 per #bitcoin. As of 3/18/24, $MSTR hodls 214,246 $BTC acquired for ~$7.53B at average price of $35,160 per bitcoin. https://t.co/oeYJGgiuy0
— Michael Saylor (@saylor) March 19, 2024

MicroStrаtegy now owns 214,246 Bitcoins, bought for about $7.53 billion with an average cost of $35,160 per coin. This purchase also means theу now hold more than 1% of the total supply of Bitcoin.

Notably, the aggressive Bitcoin buying spree comes after MicroStrategy secured $700 million specifically for Bitcoin acquisition and announced plans to raise an additional $500 million through debt financing. MicroStrategy shares dipped 13% Tuesday, mirroring a decline in Bitcoin’s price.

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VIOLET

Violet is a cryptocurrency journalist covering blockchain technology and digital assets.

Violet holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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