MicroStrategy Announces the Purchase of Nearly 10,000 Bitcoins Amidst Significant Bitcoin Correction, Holding Over 214,246 Bitcoins, Surpassing 1% of Total Bitcoin Supply.
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MicroStrategy Completes $603.75 Million Convertible Notes
MicroStrategy Buys an Additional 9,245 Bitcoins
MicroStrategy Holds 1% of Total Bitcoins
MicroStrategy Completes $603.75 Million Convertible Notes
On March 15th, MicroStrategy announced the issuance of $525 million in convertible notes, ultimately raising $603.75 million on the 18th.
According to previous reports and MicroStrategy’s announcement, the relevant data is as follows:
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Coupon Rate: 0.875%
Conversion Price: $2,327.21
Net Proceeds: Approximately $592.3 million
Maturity Date: March 15, 2031
Interest Payment Date: Interest payment twice a year (on March 15th and September 15th)
Put Option: The notes can be sold back at par value (100) after September 15, 2028
(
MicroStrategy to Issue $500 Million in Convertible Notes with a Conversion Price of $2,327, Morgan Stanley Worries About Bubble Risk
)
MicroStrategy Buys an Additional 9,245 Bitcoins
Following the completion of the convertible notes issuance, MicroStrategy’s founder immediately announced the purchase of nearly 10,000 Bitcoins using convertible notes and excess cash:
$623 million
Average Price: $67,382
BTC Purchased: 9,245 coins
BTC Holdings: 214,246 coins
Average Cost: $35,160
Current Unrealized Gain: $5.7 billion (76.24%)
MicroStrategy Holds 1% of Total Bitcoins
According to BitcoinTreasuries data, MicroStrategy holds a total of 214,246 Bitcoins, accounting for 1% of the total circulating supply of Bitcoin. However, this is still lower than Bitcoin ETF issuers such as Fidelity and Grayscale.
The data is as follows:
Fidelity: 134,888 coins (0.642%)
Grayscale: 368,558 coins (1.755%)
BlackRock: 237,339 coins (1.13%)
(
BTC at $71K! BlackRock, IBIT Overtakes MicroStrategy in Bitcoin Holdings, GBTC Surpassed by Other ETFs
)
GBTC
MicroStrategy
Bitcoin
Grayscale
BlackRock
Further Reading
Ethereum Falls Below $3.2K, Grayscale GBTC Experiences Net Outflow Again, CEO Confirms Fee Reduction
Bitcoin Spot ETF Records Ten Consecutive Days of Net Inflows Interrupted, GBTC Sees Record Net Outflow