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<ul> 
 <li>MicroStrategy acquires 11,931 BTC for $786M, raising its total to 226,331 BTC at an average cost of $36,798 per Bitcoin.</li> 
 <li>MicroStrategy’s $800M convertible notes offering will mature in 2032, with a 2.25% interest rate, payable semi-annually.</li> 
 <li>Bitcoin trades 1.46% higher at $65,995, with MicroStrategy’s stock price surging by 2.35% in pre-market trading.</li> 
</ul> 
<p><a href="https://www.microstrategy.com/">MicroStrategy</a>, led by Executive Chairman Michael Saylor, has improved its Bitcoin portfolio by acquiring an additional 11,931 Bitcoins. This purchase, amounting to approximately $786 million, was made using proceeds from convertible notes and excess cash. The acquisition price averaged around $65,883 per Bitcoin, reflecting the company’s ongoing commitment to its Bitcoin investment strategy.</p> 
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   <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>
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<h3 class="wp-block-heading" id="h-details-of-the-acquisition"><strong>Details of the Acquisition</strong></h3> 
<p>Michael Saylor recently announced on X that MicroStrategy now holds a total of 226,331 Bitcoins. The total investment stands at roughly $8.33 billion, with an average acquisition cost of $36,798 per Bitcoin. This latest purchase has given a notable push to the Bitcoin price, which is currently trading 1.46% higher at <a href="https://coinmarketcap.com/currencies/bitcoin/">$65,016.93</a>, and has helped elevate Bitcoin’s market capitalization to $1.3 trillion.</p> 
<h3 class="wp-block-heading" id="h-financing-through-convertible-notes"><strong>Financing Through Convertible Notes</strong></h3> 
<p>Just a week before this purchase, <a href="https://cryptonewsland.com/microstrategy-seeks-to-raise-700-million-for-additional-bitcoin-purchases/">MicroStrategy revealed</a> its $800 million convertible notes offering. The notes, maturing in 2032, carry an interest rate of 2.25%, payable semi-annually starting December 15, 2024. These senior, unsecured obligations can be converted into cash, MicroStrategy class A common stock, or a combination of both, subject to specific conditions before December 15, 2031.</p> 
<h3 class="wp-block-heading" id="h-market-reactions-and-projections"><strong>Market Reactions and Projections</strong></h3> 
<p>The announcement of the Bitcoin purchase has positively impacted MicroStrategy’s stock price. MicroStrategy shares have surged by 2.35%, surpassing the $1,500 mark. Since the start of 2024, the company’s stock has seen a remarkable increase of over 114%. Notably, MicroStrategy’s stock performance has outpaced Bitcoin itself, with the company’s shares achieving a one-year gain of 338% compared to Bitcoin’s 145%.</p> 
<h3 class="wp-block-heading" id="h-future-implications-for-bitcoin-prices"><strong>Future Implications for Bitcoin Prices</strong></h3> 
<p>The Bitcoin market has experienced some resistance around the $66,000 mark, driven by <a href="https://cryptonewsland.com/bitcoin-selloffs-shifting-market-sentiment-is-it-the-time-to-sell/">substantial selling activity</a>. However, market analysts have speculated that MicroStrategy’s continued investment in Bitcoin, particularly through its convertible notes, could drive the cryptocurrency’s price towards $72,000. Data from CoinGlass suggests that if Bitcoin approaches $70,000, approximately $1.67 billion in short positions could be liquidated, potentially amplifying upward price movements.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read also</h4> 
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<p>The post <a href="https://cryptonewsland.com/microstrategys-bitcoin-stash-grows-to-226331-btc-with-latest-786m-purchase/">MicroStrategy’s Bitcoin Stash Grows to 226,331 BTC with Latest $786M Purchase</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

MicroStrategy’s Bitcoin Stash Grows to 226,331 BTC with Latest $786M Purchase

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