Key Points
- MicroStrategy’s Michael Saylor buys 9,245 BTC between March 11 And March 18.
- The Bitcoin maximalist continues his Bitcoin accumulation ahead of the halving event, which is around the corner.
According to the latest reports on X, MicroStrategy has bought an additional 9,245 BTC between March 11 and March 18.
The SEC noted on their official website that on March 19, 2024, MicroStrategy made an announcement that they had acquired approximately 9,245 bitcoins between March 11 and March 18, 2024.
The acquisition was made using $592.3 million of proceeds from the Offering and $30.7 million of Excess Cash, for approximately $623.0 million in cash. The average price per BTC, inclusive of fees and expenses, was approximately $67,382.
According to the official notes posted by the SEC:
“As previously disclosed, on March 18, 2024, MicroStrategy Incorporated (“MicroStrategy”) completed a private offering of convertible senior notes (the “Offering”). The Offering, which included a 0.875% coupon and an approximately 40% conversion premium over the U.S. composite volume weighted average price of MicroStrategy’s class A common stock from 9:30 a.m. through 4:00 p.m. Eastern Daylight Time on March 14, 2024, was well received in the marketplace and upsized to a total of $603.75 million in aggregate principal amount.”
The initial purchasers exercised their option to purchase $78.75 million of additional notes, making the total net proceeds from the Offering to MicroStrategy approximately $592.3 million.
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
MicroStrategy, along with its subsidiaries, held around 214,246 Bitcoins as of March 18, 2024.
The BTC were purchased at an aggregate cost of approximately $7.53 billion, with an average purchase price of approximately $35,160 per Bitcoin, inclusive of fees and expenses.
Saylor continues Bitcoin buying spree ahead of the halving event
MicroStrategy planned to raise an additional $500 million following its recent $800 million debt raise.
The proceeds from this sale are earmarked for further investment in Bitcoin. This move comes as the cryptocurrency’s value hit a new ATH.
The debt would be offered as senior notes to purchase, maturing on March 15, 2031. MicroStrategy announced that investors would receive interest payments twice a year.
The massive buying spree that Michael Saylor has embarked on continues as we approach the Bitcoin halving event.
