MicroStrategy announced that it has acquired an additional 19,452 BTC for approximately $ 1.026 billion, including fees and costs.
MicroStrategy has purchased an additional ~ 19,452 bitcoins for ~ $ 1.026 billion in cash at an average price of ~ $ 52,765 per #bitcoin . As of 2/24/2021, we #hodl ~ 90,531 bitcoins acquired for ~ $ 2.171 billion at an average price of ~ $ 23,985 per bitcoin. $ MSTR https://t.co/FbsRYhXEhn
– Michael Saylor (@michael_saylor) February 24, 2021
The average purchase price was approximately $ 52,765 per coin.
On February 19, 2021, the company closed its previously announced round of sale of $ 1.05 billion convertible senior bonds with a zero interest rate and maturity in 2027. MicroStrategy expected that the net proceeds from the placement of securities would be about $ 1.03 billion. All the funds raised were planned to be invested in the first cryptocurrency.
At that time, MicroStrategy owned 71,079 BTC.
A business analytics software firm became the first public company to convert a portion of its free capital into bitcoin. In August, MicroStrategy bought 21,454 BTC for approximately $ 250 million .
In September, the company acquired another 16,796 BTC for $ 175 million. In December, it added 2,574 BTC to its balance sheet, which cost it $ 50 million.
In the same month, MicroStrategy raised $ 650 million in debt financing to invest in Bitcoin through a convertible senior bond offering. The amount turned out to be $ 100 million higher than the target of the placement.
“The company currently holds over 90,000 BTC, which confirms our confidence that bitcoin, as the world’s most widely used cryptocurrency, can serve as a reliable store of value. We will continue to adhere to our strategy of acquiring bitcoins using surplus funds “, – commented on today’s news the CEO of the company Michael Sailor.
He added that, depending on market conditions, the firm may continue to issue debt or equity securities to raise capital to buy additional bitcoins.
As a reminder, in January Sailor announced that the company will consider new opportunities for investing in the first cryptocurrency.