Bitcoin

when

Yield

MicroStrategy has just announced raising $1.01 billion in an upsized offering to convertible notes at 0.625% Coupon and 40% conversion Premium.
The company detailed how it plans to use the funds in the <a href="https://www.microstrategy.com/press/microstrategy-completes-1-01b-offering-of-0-625-convertible-senior-notes-due-2028_09-20-2024" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">press release</a> itself, but Michael Saylor already jumped the gun and revealed a massive BTC buy.
<blockquote>
 MicroStrategy has acquired 7,420 BTC for $458.2 million at $61,750 per bitcoin and has achieved BTC Yield of 5.1% QTD and 17.8% YTD. As of 9/19/2024, we hodl 252,220 BTC acquired for apprx. $9.9 billion at $39,266 per bitcoin.
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-20-at-16.18.57.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="aligncenter size-full wp-image-361491" src="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-20-at-16.18.57.png" alt="Screenshot 2024-09-20 at 16.18.57" width="611" height="472" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-20-at-16.18.57.png 611w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-20-at-16.18.57-300x232.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-20-at-16.18.57-50x39.png 50w" sizes="(max-width: 611px) 100vw, 611px"></a>
</blockquote>
It’s worth noting that the move was first <a href="https://cryptopotato.com/microstrategy-to-raise-another-700m-for-bitcoin-buying-via-debt-offering/" data-wpel-link="internal" rel="noopener noreferrer nofollow">announced</a> on Sept. 17th, when the company intended to raise $700 million. They raised over a billion, hence the “upsized offering,” part.
The current value of MicroStrategy’s BTC holdings is around $15.8 billion. This means they’re sitting on paper profits of around $6 billion or approximately 60%.
The post <a href="https://cryptopotato.com/microstrategy-announces-massive-460m-bitcoin-buy/" rel="noopener noreferrer nofollow">MicroStrategy Announces Massive $460M Bitcoin Buy</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

MicroStrategy Announces Massive $460M Bitcoin Buy

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