- MicroStrategy acquires an additional 18,300 BTC, raising their holdings to 244,800 Bitcoins, valued at approximately $14.68 billion.
- MicroStrategy announces a $700 million convertible senior notes offering to increase investment in Bitcoin, acting like a spot ETF.
Michael Saylor, recently engaged with the global cryptocurrency community via his X social media platform, amid signs of a resurgence in Bitcoin’s market value, which approached the $60,000 mark once again.
Just hours before this interaction, MicroStrategy had extended another substantial Bitcoin investment opportunity to its investors.
Saylor posted an image depicting himself as a football player sprinting across a field in an orange uniform—the color symbolically representing Bitcoin—with the number 21 emblazoned on his jersey, a nod to the total Bitcoin supply of 21 million coins designed by creator Satoshi Nakamoto.
Running #Bitcoin pic.twitter.com/X2ntwYviVF
— Michael Saylor⚡️ (@saylor) September 17, 2024
Bitcoin’s price has seen a recovery of approximately 2.76%, nearing the $60,000 threshold. This follows a notable decline of 4.55% on Monday, where it dropped from $60,358 to the $57,600 level. Earlier in the year, on March 14, Bitcoin had reached an all-time high of $73,750. Currently, it trades at about 19.55% below that peak.
Adding to its aggressive Bitcoin strategy, MicroStrategy recently announced the acquisition of an additional 18,300 BTC, valued at approximately $1.1 billion. This purchase increases the company’s holdings to a total of 244,800 Bitcoins, valued at roughly $14.68 billion, representing about 1.17% of the total Bitcoin supply.
This acquisition places MicroStrategy among the top holders of Bitcoin, surpassing many dedicated spot BTC exchange-traded funds that launched in January.
Moreover, MicroStrategy has announced a new offering of convertible senior notes aimed at raising an additional $700 million. This is intended to further bolster the company’s investment in Bitcoin. Investors will have the option to convert these notes into MicroStrategy (MSTR) shares at a future date and will receive interest payments in the interim.
MicroStrategy has been operating akin to a spot Bitcoin ETF, even before such funds officially entered the market and commenced trading. This strategy underscores Saylor’s commitment to Bitcoin and signals a bullish stance on its future value trajectory.
