MicroStrategy’s Bitcoin Acquisition and Financing Details
MicroStrategy’s Successful Private Offering
Microstrategy recently completed a private offering of convertible senior notes, raising a total of $800 million. The offering was well-received in the marketplace, including additional notes worth $100 million, resulting in net proceeds of approximately $782.0 million for the company.
Bitcoin Acquisition Announcement
On March 11, 2024, MicroStrategy disclosed its acquisition of approximately 12,000 bitcoins for around $821.7 million in cash. This purchase was made using funds from the offering and Excess Cash, with an average price of about $68,477 per bitcoin, fees and expenses included.
MicroStrategy’s Bitcoin Holdings
As of March 10, 2024, MicroStrategy and its subsidiaries held a total of approximately 205,000 bitcoins. The bitcoins were acquired at an aggregate purchase price of around $6.91 billion, with an average purchase price of roughly $33,706 per bitcoin, inclusive of fees and expenses.
