Kaspa

Rule

Bitcoin

<ul> 
 <li>The firm’s overall Bitcoin holdings have increased to 214,246 BTC.</li> 
 <li>MicroStrategy (NASDAQ: MSTR) had its price drop 12.34% today, trading at $1,317.</li> 
</ul> 
With the closing of its offering of 0.875% convertible senior notes due in 2031 on March 18, 2024, <a href="https://thenewscrypto.com/microstrategy-plans-to-raise-525m-via-convertible-senior-notes/" target="_blank" rel="noreferrer noopener">MicroStrategy</a> purchased another 9,245 BTC. The firm’s overall Bitcoin holdings have increased to 214,246 BTC, representing 1% of the 21 billion total Bitcoin supply, thanks to this substantial accumulation. 
As the news of the acquisition broke, it mirrored the general panic in the cryptocurrency market as <a href="https://thenewscrypto.com/crypto-market-faces-crisis-as-bitcoin-plunge-to-13-day-low/" target="_blank" rel="noreferrer noopener">Bitcoin</a> fell below $63,000. Completing the aforementioned offering allows MicroStrategy to secure sufficient cash to further establish its position and financial strategies in the ever-changing crypto market. 
A new filing with the U.S. <a href="http://sec.gov" target="_blank" rel="noreferrer noopener nofollow">SEC</a> today states that MicroStrategy spent $623 million (including funds from the aforementioned sale and some extra cash) to purchase 9,245 BTC. 
Over the course of 13 days, initial buyers exercised a $78.75 million fund, contributing to the total principal amount of $603.75 million for these notes. Private offerings to eligible institutional purchasers under Rule 144A of the Securities Act of 1933 mostly included these notes until their conclusion on March 18. 
<h3 class="wp-block-heading" id="h-dull-market-performance">Dull Market Performance</h3> 
At the same time, MicroStrategy (NASDAQ: MSTR) had its price drop 12.34% today, trading at $1,317. But with all that accumulation, the company currently has 214,246 BTC, bought at an average price of $35,160 per Bitcoin. 
Nevertheless, Bitcoin (BTC) fell below the $63k barrier during trading today. At the time of writing, the price of Bitcoin recovered slightly and is now trading at $63,995, down 6.41% in the last 24 hours as per data from <a href="http://coinmarketcap.com" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>. With the impending halving expected in mid-April, investors and traders are closely monitoring the price movement for any potential upswing. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/kaspa-faces-potential-downtrend-can-kas-sustain-0-12-level/" target="_blank" rel="noreferrer noopener">Kaspa Faces Potential Downtrend: Can KAS Sustain $0.12 Level?</a>

MicroStrategy Continues Buying Spree, Acquires 9,245 Bitcoin

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TheNewsCrypto

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