MicroStrategy (MSTR) Expands Bitcoin Holdings with $4.6 Billion Purchase, Announces $1.75 Billion Notes Offering
The post MicroStrategy (MSTR) Expands Bitcoin Holdings with $4.6 Billion Purchase, Announces $1.75 Billion Notes Offering appeared on BitcoinEthereumNews.com.
TLDR: MicroStrategy bought 51,780 Bitcoin for $4.6 billion, bringing total holdings to 331,200 BTC Company plans to raise additional $1.75 billion through convertible notes for more Bitcoin purchases MicroStrategy now owns 1.58% of total maximum Bitcoin supply Major Wall Street firms including Vanguard and Morgan Stanley are increasing their MSTR holdings Company stock (MSTR) is up 485% this year, outperforming Bitcoin’s 112% gain MicroStrategy, the business intelligence company turned Bitcoin treasury firm, has made its largest cryptocurrency purchase to date, acquiring 51,780 Bitcoin for $4.6 billion. This latest move brings the company’s total Bitcoin holdings to 331,200 BTC, valued at over $30 billion at current prices. The Virginia-based company completed the purchase between November 11 and November 17, according to an SEC filing. The average purchase price was $88,627 per Bitcoin, adding to the company’s existing holdings which were acquired at an average cost of $49,874 per coin. Not content with this massive purchase, MicroStrategy announced plans on Monday evening to raise an additional $1.75 billion through zero-interest convertible senior notes. These notes, set to mature in 2029, will be offered exclusively to qualified institutional buyers and could potentially fund the purchase of approximately 19,000 more Bitcoin. The convertible notes offer flexibility to holders, who can convert them into cash, MicroStrategy stock, or a combination of both. The company has also included an option for initial buyers to purchase an additional $250 million in notes within a three-day window. MicroStrategy Incorporated (MSTR) Wall Street’s biggest players are taking notice of MicroStrategy’s aggressive Bitcoin strategy. Vanguard Group and Capital International Investors each acquired about 15.8 million shares of MicroStrategy stock last quarter. Morgan Stanley has also increased its position substantially, purchasing 8.8 million shares on Thursday, representing an 1,126% increase from their previous holdings. The company’s Bitcoin-focused approach has led to…
Filed under: News - @ November 19, 2024 2:23 pm