Business intelligence firm and corporate bitcoin holder MicroStrategy acquired an additional 11,931 BTC +0.53% for approximately $786 million at an average price of $65,883 per bitcoin between April 27 and June 19, according to a filing on Thursday.
The company now holds 226,331 BTC, worth roughly $14.9 billion. MicroStrategy’s total holdings were bought at an average price of $36,798 per bitcoin, or around $8.33 billion, inclusive of fees and expenses, according to the company's founder and executive chairman Michael Saylor.
MicroStrategy’s latest bitcoin purchase follows its acquisition of 9,245 BTC for $623 million in March, followed by two smaller purchases, which took the firm’s holdings over 1% of the total 21 million bitcoin supply for the first time.
MicroStrategy’s share price was up 2.4% in pre-market trading Thursday morning at $1,505, according to TradingView. The stock is down 2% over the past month but has gained 112% year-to-date.
As of Tuesday's close, its market capitalization was $26.06 billion, and its enterprise value was $29.6 billion, according to data from Yahoo Finance.
MSTR/USD price chart. Image: TradingView.
Bitcoin is currently trading for $66,009, according to The Block's bitcoin price page, up 1.4% over the past 24 hours.
MicroStrategy completes $800 million convertible note offering
The latest acquisition follows the firm’s completion of a private offering of convertible senior notes, which included a 2.25% coupon and an approximately 35% conversion premium over the U.S. composite volume weighted average price of MicroStrategy’s class A common stock, according to the filing.
MicroStrategy originally proposed a $500 million offering on June 13, which was later upsized to $800 million amid a positive reception in the marketplace, the firm said. Net proceeds from the offering totaled approximately $786 million, used to fund the bitcoin acquisitions alongside excess cash.