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<p>The post <a href="https://coinpedia.org/news/microstrategy-acquired-an-additional-9245-bitcoins-after-completing-an-oversubscribed-convertible-senior-notes-offering/">MicroStrategy Raises $604 Million to Buy Additional 9,245 Bitcoins</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://www.microstrategy.com/press/microstrategy-acquires-additional-9-245-btc-and-now-holds-214-246-btc_03-19-2024">MicroStrategy Inc.</a> (NASDAQ: MSTR) has achieved a significant milestone, raising an impressive $603.75 million through its recent offering of convertible senior notes due 2031. Without hesitation, the company swiftly converted these funds into <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a>, solidifying its long-term investment strategy. </p> 
<p>Additionally, MicroStrategy disclosed its acquisition of 9,245 Bitcoins for around $623 million, boosting its Bitcoin holdings to a remarkable 214,246 Bitcoins, currently valued at over $13.5 billion based on Bitcoin’s current price of approximately $63,000.</p> 
<h2 class="wp-block-heading" id="h-microstrategy-vs-blackrock"><strong>MicroStrategy vs. BlackRock</strong></h2> 
<p>To provide context, BlackRock, through its iShares Bitcoin Trust (IBIT), holds approximately 237,339 Bitcoins, valued at about $15.94 billion. This highlights the intensifying competition between MicroStrategy and BlackRock in the Bitcoin investment landscape.</p> 
<h2 class="wp-block-heading" id="h-microstrategy-exceeds-expectations">MicroStrategy Exceeds Expectations</h2> 
<p>Based on the market demand, MicroStrategy previously anticipated to raise between $515 million and $592.3 million. However, MicroStrategy <a href="https://www.microstrategy.com/press/microstrategy-completes-603-million-offering-of-0875-convertible-senior-notes-due-2031_03-19-2024">raised</a> about $603.75, after the additional $78.75 million convertible senior notes.&nbsp;</p> 
<p>According to executive chairman Michael Saylor, MicroStrategy topped the funds raised with its excess cash to acquire Bitcoins at an average price of $67,382 per coin.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">MicroStrategy has acquired an additional 9,245 BTC for ~$623.0M using proceeds from convertible notes &amp; excess cash for ~$67,382 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>. As of 3/18/24, <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> hodls 214,246 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$7.53B at average price of $35,160 per bitcoin. <a href="https://t.co/oeYJGgiuy0">https://t.co/oeYJGgiuy0</a></p>— Michael Saylor
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1770061111146033385?ref_src=twsrc%5Etfw">March 19, 2024</a>
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<h2 class="wp-block-heading" id="h-bitcoin-market-dynamics">Bitcoin Market Dynamics </h2> 
<p>Recent fluctuations in Bitcoin prices have led to increased market volatility, resulting in over $664 million liquidated from the crypto leverage market within a 24-hour period. Bitcoin’s value dropped by over 7 percent in the past day, reaching around $63,500 during the early New York session on Tuesday. The breach of the crucial support level at $69,000 earlier in the week has prompted a shift in sentiment among cryptocurrency traders, with many adopting a bearish outlook for the short term.</p> 
<p> Despite calls to “buy the dip,” traders are seeking refuge in the stablecoins market amidst anticipation of high-impact news from the United States regarding interest rates on Wednesday. </p> 
<p>As uncertainty looms, market participants are preparing for potential market turbulence and adjusting their strategies accordingly.</p>

MicroStrategy Raises $604 Million to Buy Additional 9,245 Bitcoins

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