Michael Saylor’s Strategy, formely known as MicroStrategy has resumed its Bitcoin buying spree just a week after halting its BTC purchases and share sales. The company, now operating as “Strategy,” announced the acquisition of 20,356 bitcoins for approximately $1.99 billion.

Michael Saylor’s Strategy Expands Bitcoin Holdings with $2B Purchase

Michael Saylor’s Strategy, formely known as MicroStrategy has disclosed that it completed a $2 billion private offering of convertible senior notes due in 2030. The notes carry a 0% coupon and are convertible at a 35% premium over the current stock price.

The net proceeds from the offering amounted to approximately $1.99 billion after deducting expenses. The company stated that the funds would be used for general corporate purposes, including acquiring more Bitcoin.

The convertible notes allow investors to convert each $1,000 note into 2.3072 shares of Strategy’s Class A common stock at $433.43 per share. This price represents a premium over the recent market price. Additionally, the offering included an option for the initial purchasers to buy an extra $300 million in notes, available until February 27, 2025.

Consequently, between February 18 and February 23, 2025, Strategy has acquired 20,356 Bitcoins at an average price of $97,514 per BTC.

This Is A Developing News, Please Check Back For More

The post Just In: Michael Saylor’s Strategy Expands Bitcoin Holdings with $2B Purchase appeared first on CoinGape.

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Filed under: News - @ February 24, 2025 1:49 pm