© Reuters MicroStrategy buys 12,000 Bitcoin using $800 million raised from convertible note offering
MicroStrategy (MSTR) acquired an additional 12,000 Bitcoin, according to a security filing on Monday.
MSTR shares rose 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 funds the software technology firm raised through a convertible note offering announced earlier this month. The offering closed on March 8, raising a total of $800 million in capital.
“MicroStrategy has acquired an additional 12,000 BTC for ~$821.7 million using proceeds from convertible notes and excess cash for ~$68,477 per bitcoin,” company founder and president Michael Saylor said in a post on X.
With this latest acquisition, MicroStrategy's Bitcoin holdings have increased to 205,000 BTC, purchased at a total cost of $6.91 billion, which averages out to $31,500 per Bitcoin.
