2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/microstrategy-completes-800m-convertible-notes-offering-acquires-11-9k-bitcoin-for-786m/">Bitcoin to Soar as MicroStrategy Dumps $800 Million to Buy The Dip</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>MicroStrategy Inc. (NASDAQ: MSTR) has announced the completion of its $800 million offering of 2.25 percent convertible senior notes, aiming to acquire more Bitcoin (BTC) at discounted prices. The company plans to use these funds primarily for purchasing additional Bitcoins.</p> 
<p>Here’s all you need to know. </p> 
<h2 class="wp-block-heading" id="h-a-bold-investment-strategy">A Bold Investment Strategy</h2> 
<p>MicroStrategy Inc. (NASDAQ: MSTR) has announced the completion of its $800 million offering of 2.25 percent convertible senior notes, aiming to acquire more Bitcoin (BTC) at discounted prices. The company plans to use these funds primarily for purchasing additional Bitcoins.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes &amp; excess cash for ~$65,883 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>. As of 6/20/24, <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> hodls 226,331 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$8.33B at average price of $36,798 per bitcoin.<a href="https://t.co/jE9dGqqnON">https://t.co/jE9dGqqnON</a></p>— Michael Saylor
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1803763490928119950?ref_src=twsrc%5Etfw">June 20, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>With this acquisition, MicroStrategy now owns about 226,331 Bitcoins, valued at roughly $15 billion given the current BTC price of $66,000.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p><em>“MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoin and for general corporate purposes,” </em></p> <cite>Microstrategy</cite>
</blockquote> 
<p><strong>Shrinking Bitcoin Supply and Increased Demand</strong></p> 
<p>Despite selling pressure from miners, the Bitcoin supply on cryptocurrency exchanges has been steadily decreasing. Institutional investors, driven by high inflation in fiat currencies and a bullish macroeconomic outlook, have sustained Bitcoin’s price above $65,000.</p> 
<h2 class="wp-block-heading" id="h-market-dynamics">Market Dynamics </h2> 
<p>The notable Bitcoin acquisition by MicroStrategy outstrips the $152 million net cash outflows from the US-based <a href="https://markets.coinpedia.org/bitcoin-etf/" target="_blank" rel="noreferrer noopener">spot Bitcoin ETFs</a> on Wednesday. As a result, the overall Bitcoin fundamentals have improved amid the recent crypto correction, which had pushed Bitcoin below $65k.</p> 
<p>If <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin’s price</a> continues to show bullish sentiment in the coming days, the flagship coin could reclaim the $67k support level and rally toward its all-time high.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/market-sentiments-remain-strong-but-bitcoin-btc-price-rally-is-poised-for-a-5-drop-in-the-next-48-hours/" target="_blank" rel="noreferrer noopener">Market Sentiments Remain Strong But Bitcoin (BTC) Price Rally is Poised for a 5% Drop in the Next 48 Hours!</a></p> 
<p><strong>Will MicroStrategy’s bold move spark another Bitcoin bull run? Only time will tell.</strong></p>

Bitcoin to Soar as MicroStrategy Dumps $800 Million to Buy The Dip

Table of Contents

CoinPedia News

Other articles published on Jun 20, 2024

MicroStrategy Acquires 11,931 BTC for $786 Million, Continuing Aggressive Bitcoin Strategy

AI computing protocol attracts $158M within a week after ‘fair launch’

Which ETF is Next, Solana or Chainlink?

Aleph Zero Introduces The First EVM-Compatible ZK-Privacy Layer with Subsecond Proving Times (20 ...

Investor Caution Takes Center Stage in Bitcoin’s Latest Market Update

Coinbase Lists LayerZero and Core

Join our free newsletter for daily crypto updates!