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.