coinspress.com
MicroStrategy, a significant holder of Bitcoin, has recently concluded a convertible notes offering to boost its Bitcoin reserves.
Former CEO Michael Saylor announced the completion of the offering, which amounted to $603.75 million, including an option to purchase additional notes.
These notes were sold in a private offering to qualified institutional buyers in compliance with U.S. securities laws.
This offering comes shortly after MicroStrategy’s $800 million convertible note offering on March 8, where the proceeds were used to acquire 12,000 BTC.
Following the latest offering, MicroStrategy plans to utilize the net proceeds to purchase more Bitcoin.
Additionally, Saylor disclosed the acquisition of 9,245 BTC using the proceeds from convertible notes and excess cash, bringing MicroStrategy’s total Bitcoin holdings to 214,246 BTC.
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The firm’s entire Bitcoin stash was acquired at an average price of $35,160 per BTC.
The recent fundraiser marks MicroStrategy’s continued efforts to accumulate Bitcoin, with Saylor emphasizing his commitment to hodling the cryptocurrency.