Bitcoin

Rupee

<ul>
 <li>Approximately $8.33 billion worth of 226,331 Bitcoins are currently held by MicroStrategy.</li>
 <li>The price of bitcoin has declined below the $65,000 mark and is currently trading at $64,902.</li>
</ul>
An additional 11,931 Bitcoins, valued at an average of over $65,883 per, were bought by Michael Saylor led MicroStrategy. In an effort to boost its Bitcoin holdings, <a href="https://thenewscrypto.com/microstrategy-to-issue-500m-in-convertible-notes-to-buy-more-btc/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy</a> announced a week before that it would be selling $800 million in convertible notes.
Interest on the notes will be paid semi-annually starting on December 15, 2024, and the maturity date is 2032. The interest rate is 2.25%. These notes represent MicroStrategy’s senior obligations and are essentially unsecured.
The corporation has the option to convert these notes into cash, shares of MicroStrategy class A common stock, or a mix of the two. According to the news release from MicroStrategy, these conversions may only take place at certain times. And under certain circumstances before December 15, 2031.
<h3 class="wp-block-heading" id="h-bitcoin-price-tumbles">Bitcoin Price Tumbles</h3>
Approximately $8.33 billion worth of 226,331 <a href="https://thenewscrypto.com/bitcoin-miner-reserves-hit-lowest-levels-since-2021-amid-price-dip/" target="_blank" rel="noopener noreferrer nofollow">Bitcoins</a>, bought at an average price of $36,798 per BTC, are currently held by MicroStrategy, according to Michael Saylor’s most recent revelation.
The stock of <a href="https://www.marketwatch.com/investing/stock/mstr" target="_blank" rel="noopener noreferrer nofollow">MSTR</a> has increased by more than 114% from the start of 2024. Since the start of 2023, MicroStrategy stock has actually done better than Bitcoin. Comparatively, Bitcoin’s one-year gains are 145% and MSTR’s are 338%.
Nonetheless, there were prior predictions from market experts that the BTC price may rebound to $72,000 if MicroStrategy invested its convertible notes to Bitcoins.
As a result of heavy selling in the market, the $66,000 barrier lately provided Bitcoin with some resistance. However, as of this writing, the price of bitcoin has declined below the $65,000 mark and is currently trading at $64,902 as per data from <a href="http://coinmarketcap.com" target="_blank" rel="noopener noreferrer nofollow">CMC</a>.
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MicroStrategy Adds 11,931 Bitcoins Amid $800M Convertible Notes Sale

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