MicroStrategy adds $600 million to its Bitcoin holdings, now owning 9,245 coins, representing 1% of total circulation

MicroStrategy announced the purchase of nearly 10,000 bitcoins through convertible notes and excess cash amid a significant Bitcoin pullback. The company currently holds 214,246 bitcoins, surpassing 1% of the total Bitcoin supply.

MicroStrategy Completes $603.75 Million Convertible Notes Offering

MicroStrategy announced its second offering of $525 million in convertible notes on March 15th, ultimately raising $603.75 million on the 18th.

According to previous reports and a public statement by MicroStrategy, the relevant data is as follows:

• Face Interest Rate: 0.875%

• Conversion Price: $2,327.21

• Net Proceeds: Approximately $592.3 million

• Maturity Date: March 15, 2031

• Interest Payment Date: Semi-annual interest payments on March 15th and September 15th each year

• Put Option: Notes can be sold back at face value of 100 after September 15, 2028

MicroStrategy to Issue Another $500 Million in Convertible Notes, Conversion Price Reaches $2327, JPMorgan Concerned About Bubble Risk

MicroStrategy Completes $603.75 Million Offering of Convertible Notes at 0.875% Coupon and 40% Conversion Premium $MSTR https://t.co/ugFqRTTcCo

— Michael Saylor⚡️ (@saylor) March 19, 2024

MicroStrategy Buys Another 9,245 Bitcoins

Following the completion of the convertible notes offering, MicroStrategy's founder announced the purchase of nearly 10,000 bitcoins using convertible notes and excess cash:

• $623 million

• Average Price: $67,382

• Bitcoin Bought: 9,245 coins

• Total Bitcoin Holdings: 214,246 coins

• Average Cost: $35,160

• Current Unrealized Gain: $5.7 billion, 76.24%

MicroStrategy has acquired an additional 9,245 BTC for ~$623.0M using proceeds from convertible notes & excess cash for ~$67,382 per #bitcoin. As of 3/18/24, $MSTR hodls 214,246 $BTC acquired for ~$7.53B at average price of $35,160 per bitcoin. https://t.co/oeYJGgiuy0

— Michael Saylor⚡️ (@saylor) March 19, 2024

MicroStrategy Holds 1% of Total Bitcoin Supply

BitcoinTreasuries data shows that MicroStrategy holds a total of 214,246 bitcoins, accounting for 1% of the total circulating Bitcoin supply.

However, this is still lower than Bitcoin ETF issuers such as BlackRock and Grayscale.

The data is as follows:

• Fidelity: 134,888 coins, 0.642%

• Grayscale: 368,558 coins, 1.755%

• BlackRock: 237,339 coins, 1.13%

BTC at 71K! BlackRock's IBIT Bitcoin Holdings Surpass MicroStrategy, GBTC Overtaken by Other ETFs