2024

Bitcoin

Million

Green

<div class="insidebitcoins">
 MicroStrategy shares plunged after it announced a plan to raise $600 million via an issue of convertible senior notes, in part to purchase more Bitcoin.
 The company’s stock price slumped about 8% in the past 24 hours to trade at $1,174 as of 12.25 p.m. EST. It’s still up 66% so far this year and 368% over the past year
 The business intelligence firm is the largest corporate holder of Bitcoin with a stash of 193,000 BTC worth around $13 billion at the current prices. But it’s not done buying.
 It said in a statement that it “intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin and for general corporate purposes.”
 Bitcoin briefly hit a new all-time high today of $69,325 before plummeting back to $64,264.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 MicroStrategy Announces Proposed Private Offering of $600 Million of Convertible Senior Notes $MSTR https://t.co/PEN5dxesIb
 — Michael Saylor⚡️ (@saylor) March 4, 2024
 </blockquote>
 
 Senior convertible notes are a form of debt security with an option to convert into equity in the future. Holders also get priority in case the company files for bankruptcy or goes into liquidation.
 <h2 id="microstrategy-doubles-down-on-bitcoin-amid-recent-rally">MicroStrategy Doubles Down On Bitcoin Amid Recent Rally</h2>
 Bitcoin bull Michael Saylor, a co-founder of the firm, has been doubling down on Bitcoin and bought 3,000 more BTC last month at a price of around $51,813 each.
 The firm currently sits at an unrealized profit of $6 billion on its Bitcoin holdings. It purchased its current holdings at an average buy price of $31,550.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per #bitcoin. As of 2/25/24, @MicroStrategy now hodls 193,000 $BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin. $MSTR https://t.co/micudbYf3P
 — Michael Saylor⚡️ (@saylor) February 26, 2024
 </blockquote>
 
 <h3 id="also-read">Also Read:</h3>
 <ul>
 <li>Bitcoin Price Prediction: MicroStrategy To Raise $600 Million To Buy Yet More BTC As This Green Bitcoin Presale Dashes Towards $2 Million</li>
 <li>Bitcoin Price Prediction: BTC Blasts Past $56K As MicroStrategy Buys 3K Bitcoin And Investors Stampede To This New Green BTC Gem Before A Price Hike</li>
 <li>Hacked Microstrategy Account On Social Media Platform X Leads To $440,000 In Losses</li>
 <li>MicroStrategy’s Profit On Massive Bitcoin Stash Hits $4 Billion After BTC’s 21% Surge In A Month</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/microstrategy-stock-plunges-after-announcing-issue-of-600-million-in-convertible-senior-notes-to-buy-more-bitcoin-tbt81690.html">https://thebittimes.com/microstrategy-stock-plunges-after-announcing-issue-of-600-million-in-convertible-senior-notes-to-buy-more-bitcoin-tbt81690.html</a>
</div>

MicroStrategy Stock Plunges After Announcing Issue Of $600 Million In Convertible Senior Notes To Buy More Bitcoin

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