{"id":14944,"date":"2024-03-11T19:16:00","date_gmt":"2024-03-11T19:16:00","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=14944"},"modified":"2024-03-11T19:16:03","modified_gmt":"2024-03-11T19:16:03","slug":"microstrategy-spends-821-million-to-grow-its-bitcoin-hoard-to-205000","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=14944","title":{"rendered":"MicroStrategy spends $821 million to grow its Bitcoin hoard to 205,000"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>MicroStrategy has increased its Bitcoin stash to more than 200,00 after acquiring 12,000 Bitcoin for $821 million between Feb. 26 and Mar. 10, according to a Mar. 11 SEC filing.<\/p>\n<p>This purchase was primarily financed by the net proceeds from its recent convertible debt offering, alongside excess cash reserves.<\/p>\n<p>With this purchase, MicroStrategy has acquired more than 15,000 BTC for nearly $1 billion since the beginning of the year. As a result, the firm&#8217;s total BTC holding has risen to 205,000, acquired at an aggregate purchase price of roughly $6.91 billion, averaging about $33,706 per bitcoin.<\/p>\n<p>Notably, the purchase is coming on the heels of BTC&#8217;s climb to a new all-time high of more than $72,000. At present rates, MicroStrategy&#8217;s BTC investment is worth approximately $14.7 billion.<\/p>\n<p>The announcement spurred a nearly 10% surge in MicroStrategy shares during pre-market trading, reaching $1,560, according to Yahoo Finance data.<\/p>\n<h2>Institutional interest in MicroStrategy<\/h2>\n<p>Last week, the company disclosed plans to raise $600 million by issuing convertible senior notes to qualified institutional buyers at an annual interest rate of 0.625%. It later raised the target to $700 million.<\/p>\n<p>However, following overwhelming demand, the company said it upsized the offering to $800 million in aggregate principal amount, and its net proceeds totaled approximately $782.0 million.<\/p>\n<p>The resounding success of the offering reflects the high institutional interest in MicroStrategy. The company&#8217;s pro-BTC stand predominantly attracts most investors, and its stocks provide indirect exposure to the flagship digital asset.<\/p>\n<p>MicroStrategy&#8217;s executive chairman, Michael Saylor, recently emphasized that Bitcoin surpasses traditional assets like gold, equity, and real estate.<\/p>\n<p class=\"s3\">According to him:<\/p>\n<p>&#8220;Bitcoin is Digital Property. It is superior to other investments such as Gold, Equity, or Real Estate because it is digital, available, global, ethical, &amp; useful to millions of companies and billions of people.&#8221;<\/p>\n<p>Saylor is a staunch BTC advocate and has previously said the company has no plans to sell its coins at any point because Bitcoin is the exit plan.<\/p>\n<p>The post MicroStrategy spends $821 million to grow its Bitcoin hoard to 205,000 appeared first on CryptoSlate.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/microstrategy-spends-821-million-to-grow-bitcoin-hoard-to-205000\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy has increased its Bitcoin stash to more than 200,00 after acquiring 12,000 Bitcoin for $821 million between Feb. 26 and Mar. 10, according to a Mar. 11 SEC filing. This purchase was primarily financed by the net proceeds from its recent convertible debt offering, alongside excess cash reserves. With this purchase, MicroStrategy has acquired [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-14944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14944"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14944\/revisions"}],"predecessor-version":[{"id":14946,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14944\/revisions\/14946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/14945"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}