MicroStrategy Amasses 1% of Bitcoin Supply After Latest Buy

• MicroStrategy went on another Bitcoin buying spree.
• The company purchased convertible senior notes after completing a private offering.
• The latest acquisition pushes MicroStrategy’s Bitcoin treasury to a key level.

Michael Saylor’s business intelligence firm MicroStrategy now holds about 1% of the entire 21 million Bitcoin supply following its latest purchase, valued at over half a billion.

MicroStrategy’s latest Bitcoin buying spree comes when the world’s largest crypto asset has lost 12.66% of its value in the last seven days, sparking pre-halving danger zone concerns . At last check, BTC had witnessed an intraday decline of 6.6% and was trading at $63,205, CoinMarketCap data shows.

MicroStrategy Buys Additional 9,245 BTC

Per a Tuesday filing , MicroStrategy acquired an additional 9,245 Bitcoins between March 11 and March 18 at an average price of approximately $67,382 per BTC, including fees and expenses, bringing the total acquisition cost to approximately $623 million.

Of the $623 million, $592.3 million came from the proceeds of a recent private offering of convertible senior notes. In comparison, $30.7 million constituted excess cash, as defined in the company’s Form 10-K for the fiscal year ended December 31, 2023.

With the latest purchase, MicroStrategy and its subsidiaries now hold about 214,246 bitcoins, equivalent to over 1% of the entire BTC supply.

According to the filing, these bitcoins were bought at an average total price of $7.53 billion, translating to about $35,160 per BTC, including fees and expenses.

Read about MicroStrategy’s previous Bitcoin buy:

MicroStrategy Bitcoin Bag Nears Key Milestone with $822M Buy

Stay updated on MicroStrategy’s X account recent hack:

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