MicroStrategy announced today that it has purchased a further 7,420 Bitcoin for just under 460 million US dollars. The US software company founded by Michael Saylor has thus increased its BTC holdings to 252,220 units.
The most recent acquisition was made at a Bitcoin price of just over 60,000 US dollars. This has increased the average purchase price for Bitcoin on the company's balance sheet to almost USD 40,000 per BTC.
MicroStrategy has acquired 7,420 BTC for ~$458.2 million at ~$61,750 per #bitcoin and has achieved BTC Yield of 5.1% QTD and 17.8% YTD. As of 9/19/2024, we hodl 252,220 $BTC acquired for ~$9.9 billion at ~$39,266 per bitcoin. $MSTR https://t.co/JUtgztpzBu-
Michael Saylor⚡️ (@saylor) September 20, 2024
The company raised the funds for the purchase by issuing convertible bonds. A few days ago, MicroStrategy announced that it would issue convertible bonds for 700 million US dollars. A current loan was to be repaid early with 500 million US dollars - Blocktrainer.de reported.
In the end, however, the software company succeeded in issuing convertible bonds for 1.01 billion US dollars, as the demand for the securities apparently allowed it to do so. The bonds have an annualized interest rate of 0.625 percent and a maturity date of 2028.
With the various methods of raising debt capital, the public company is able to continuously increase the ratio of BTC per share and thus generate value for shareholders in Bitcoin terms. Since the start of the year, $MSTR is up almost 110 percent.
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