Bitcoin

Million

when

Spot

American business intelligence and software development company, <a href="https://bitcoinist.com/microstrategy-bitcoin-end-game-saylor-plan/" rel="nofollow">MicroStrategy</a> has unveiled new plans to acquire an additional Bitcoin, further bolstering its already <a href="https://bitcoinist.com/microstrategy-shifts-focus-to-bitcoin-development/" rel="nofollow">substantial BTC holdings.</a> 
<h2 id="microstrategy-mega-bitcoin-purchase-in-the-works">MicroStrategy Mega Bitcoin Purchase In The Works</h2> 
In a recent <a href="https://www.microstrategy.com/press/microstrategy-announces-proposed-private-offering-of-500-million-of-convertible-senior-notes_03-13-2024" rel="nofollow">press release</a> published on MicroStrategy’s official website, the software development company announced plans to raise $500 million in convertible debt offerings to <a href="https://www.newsbtc.com/bitcoin-news/microstrategy-buys-more-bitcoin-much-profit-holds/">purchase more Bitcoin</a>. Just a few days ago the company had sold approximately $800 million in convertible debt offerings, using the proceeds of the sale to <a href="https://www.newsbtc.com/bitcoin-news/microstrategy-increases-bitcoin-bet-with-822m-purchase-adds-12000-btc-to-treasury/">acquire about 12,000 BTC</a> valued at about $821.7 million at the time.&nbsp; 
Quite frankly, MicroStrategy seems to be on a <a href="https://bitcoinist.com/microstrategy-bitcoin-bet-btc/" rel="nofollow">full-blown Bitcoin acquisition spree,</a> potentially attributed to the cryptocurrency’s <a href="https://www.newsbtc.com/analysis/eth/bitcoin-price-resumes-rally-75k/">massive bullish rallies</a> recently and its surge to new all-time highs. As of March 11, 2024, the business intelligence firm possesses a <a href="https://www.microstrategy.com/press/microstrategy-acquires-additional-12000-btc-and-now-holds-205000-btc_03-11-2024" rel="nofollow">total of 205,000 BTC</a>, worth over $15 billion based on CoinMarketCap’s Bitcoin price of $73,411, at the time of writing.&nbsp;&nbsp; 
With its latest purchase of 12,000 BTC, MicroStrategy has finally surpassed the <a href="https://bitcoinist.com/blackrock-bitcoin-etf-gobbles-up-nearly-196000-btc/" rel="nofollow">Bitcoin holdings of BlackRock’s Spot Bitcoin Exchange Traded Fund (ETF)</a>. Additionally, the software development company has <a href="https://bitcointreasuries.net/" rel="nofollow">secured the top position</a> as the leading public company with the largest Bitcoin holdings, surpassing the holdings of both Tesla and Coinbase. 
As of March 2024, MicroStrategy’s market capitalization has <a href="https://companiesmarketcap.com/microstrategy/marketcap/" rel="nofollow">surged</a> to $29.96 billion, reflecting an increase of 10.85% in the last 24 hours. The company is also presently ranked as the world’s 642nd most valuable company by market capitalization.&nbsp; 
<h2 id="microstrategy-sets-sights-on-convertible-senior-notes-offerings">MicroStrategy Sets Sights On Convertible Senior Notes Offerings</h2> 
Since the start of the year, MicroStrategy has purchased nearly 16,000 BTC. This time around the company has chosen to raise capital through convertible senior notes, marking a shift from the previous year when most of its funds for acquiring <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-skyrockets-past-71000-heres-why/">BTC</a> were generated from equity.&nbsp; 
According to Market Watch’s <a href="https://www.marketwatch.com/investing/stock/mstr" rel="nofollow">report</a>, the <a href="https://www.newsbtc.com/bitcoin-news/microstrategy-stock-surges-as-berenberg-highlights-bitcoin-halvings/">business intelligence firm’s stock value</a> has also been on the rise recently, with MSTR prices witnessing an impressive 145% increase in a month.&nbsp; 
As stated in its press release, the company intends to sell convertible senior notes to qualified institutional buyers. MicroStrategy has revealed plans to grant early purchasers of the notes an option to buy up to an additional $75 million worth of the notes within 13 days after the initial issuance.&nbsp; 
The software development firm has disclosed that the notes will remain unsecured, with interests payable semi-annually starting in September 2024. Additionally, <a href="https://bitcoinist.com/750-million-bitcoin-microstrategy-stock-sale/" rel="nofollow">MicroStrategy</a> will have the right to redeem the notes from March 2028 or holders can request for the company to make a repurchase, with conversion terms determined at the offering’s prices. 
The proceeds and excess funds generated from its upcoming $500 million convertible senior notes sale will be used to <a href="https://bitcoinist.com/microstrategy-expands-bitcoin-purchases-3000-btc/" rel="nofollow">expand MicroStrategy’s Bitcoin holdings</a> and for general corporate purposes.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/YHMpZYtu/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1530">

Brace For Impact: MicroStrategy Is Planning Another $500 Million Bitcoin Purchase

Table of Contents

NewsBTC

Other articles published on Mar 14, 2024

Ethereum Price Faces Many Hurdles, Downside Thrust Before Fresh Increase?

Ripple vs. SEC: New Briefing Deadlines Set the Stage for Next Legal Showdown

Raffle Coin (RAFF) Explodes With Ripple (XRP) Hedge Fund Rush Amid Telegram IPO & Toncoin (TON) G...

MANTRA Aims to Bring RWA Tokenization to The Middle East and Asia (14 Mar)

Worldcoin’s Security Report Highlights Robustness

Bitcoin Experiences Sudden Retraction After Surging to Record High

Join our free newsletter for daily crypto updates!