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> 
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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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<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> 
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 <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>
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<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

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