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MicroStrategy Announces Massive $460M Bitcoin Buy

MicroStrategy bought another $460 million worth of BTC at $61,750.
George Georgiev
By George Georgiev

MicroStrategy has just announced raising $1.01 billion in an upsized offering to convertible notes at 0.625% Coupon and 40% conversion Premium.

The company detailed how it plans to use the funds in the press release itself, but Michael Saylor already jumped the gun and revealed a massive BTC buy.

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 apprx. $9.9 billion at $39,266 per bitcoin.

Screenshot 2024-09-20 at 16.18.57

It’s worth noting that the move was first announced on Sept. 17th, when the company intended to raise $700 million. They raised over a billion, hence the “upsized offering,” part.

The current value of MicroStrategy’s BTC holdings is around $15.8 billion. This means they’re sitting on paper profits of around $6 billion or approximately 60%.

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About the author

George Georgiev
George Georgiev
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Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.