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In an exciting turn of events witnessed across the cryptocurrency landscape today, March 19, Michael Saylor’s MicroStrategy acquired another 9,245 BTC following the conclusion of its offering of 0.875% convertible senior notes due in 2031 on March 18, 2024. This significant accumulation now pushes the firm’s total Bitcoin holdings to 214,246 BTC, evaluating 1% of Bitcoin’s maximum supply of 21 billion in the market. 
Meanwhile, the accumulation’s surfacing amid Bitcoin’s dip to the $63K mark echoed a sense of frenzy across the broader crypto market. With the completion of the abovementioned offering, <a href="https://coingape.com/michael-saylors-microstrategy-buys-155m-in-bitcoin/" target="_blank" rel="noopener">MicroStrategy</a> nabs enough funds to further solidify its position and financial strategies in the dynamic world of crypto. 
<h2 id="microstrategy-s-filing-a-closer-look">Microstrategy’s Filing: A Closer Look</h2> 
According to a new <a rel="nofollow" href="https://www.microstrategy.com/press/microstrategy-acquires-additional-9-245-btc-and-now-holds-214-246-btc_03-19-2024" target="_blank">filing</a> with the U.S. SEC today, MicroStrategy acquired 9,245 BTC for $623 million, utilizing funds from the completion of the offering mentioned above and some excess cash. These notes amounted to an aggregate principal of $603.75 million, including a $78.75 million fund exercised by initial purchasers within a 13-day period. With its completion on March 18, these notes had primarily witnessed private offerings to qualified institutional buyers under Rule 144A of the Securities Act 1933. 
Meanwhile, MicroStrategy (NASDAQ: MSTR) showcased a 10.58% plunge in the pre-market hours today, with its price trading at $1,336.99. On the other hand, with the aforementioned accumulation, the firm now holds 214,246 BTC accumulated for $7.5 billion at an average price of $35,160 per Bitcoin. 
However, the token BTC traded in the red today, slipping to the $63 mark. 
Also Read: <a href="https://coingape.com/trending/top-crypto-losers-of-the-week-and-why/" target="_blank" rel="noopener">Top Crypto Losers Of The Week And Why?</a> 
<h2 id="bitcoin-price-slips">Bitcoin Price Slips</h2> 
As of writing, <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin’s price</a> noted a substantial 7.24% downfall over the past 24 hours and is currently trading at $63,353. Following its recent scaling of a new ATH, this drop promptly garnered significant global attention. 
Numerous factors appear to be primarily responsible for this <a href="https://coingape.com/bitcoin-crash-why-btc-price-falling-today/" target="_blank" rel="noopener">7% plunge BTC</a> witnessed today. This encompasses muted trading ahead of the FOMC, Bitcoin ETF outflows, massive whale selloffs, and many others. 
Also Read: <a href="https://coingape.com/zachxbt-warns-against-scam-as-solana-meme-coins-raise-122m-in-presale/" target="_blank" rel="noopener">ZachXBT Warns Against Scam As Solana Meme Coins Raise $122M In Presale</a> 
The post <a href="https://coingape.com/breaking-microstrategy-buys-9245-btc-now-holds-1-of-all-bitcoin/">Breaking: MicroStrategy Buys 9,245 BTC, Now Holds 1% of All Bitcoin</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Breaking: MicroStrategy Buys 9,245 BTC, Now Holds 1% of All Bitcoin

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