MSTR shares popped more than 9% at the market open on Monday, while Bitcoin (BTC) was trading around $72,000 at the time of writing.
The purchase was made using the funds the software technology firm raised through a convertible note offering announced earlier this month. The offering was finalized on March 8, raising a total of $800 million in principal amount.
“MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes & excess cash for ~$68,477 per bitcoin,” the company’s founder and chairman Michael Saylor said in a post on X.
With this latest acquisition, MicroStrategy’s Bitcoin holdings have grown to 205,000 BTC, bought at an overall cost of $6.91 billion, which averages out to $31,500 per Bitcoin.
Source: Cryptocurrency - investing.com
