MicroStrategy shows no signs of slowing down with another $786 million purchase of Bitcoins.
MicroStrategy expanded its Bitcoin holdings with the purchase of 11,931 BTC for $786 million in cash “using proceeds from convertible notes,” the firm’s founder Michael Saylor confirmed in a Thursday morning X post.
The company also confirmed in a regulatory filing that it acquired the nearly 12,000 BTC between April 27 and June 19 at an average price of approximately $65,883 per BTC. With the latest purchase, MicroStrategy, together with its subsidiaries, now hold 226,331 BTC valued at around $15 billion.
The purchase follows less than a week after MicroStrategy announced an $800 million offering in convertible senior notes at a rate of 2.25% per annum, aimed at further Bitcoin acquisitions. Despite the massive purchase, MicroStrategy appears to be second only to BlackRock, which currently holds over 305,000 BTC in its spot Bitcoin exchange-traded fund.
Following the announcement, MicroStrategy’s share price (MSTR) increased by 2.3% in pre-market trading, reaching $1,503, according to Nasdaq data. As of press time, Bitcoin is trading at approximately $65,944, as per CoinMarketCap data.
