Featured image from The Guardian, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
American business intelligence and software development company, MicroStrategy has unveiled new plans to acquire an additional Bitcoin, further bolstering its already substantial BTC holdings. MicroStrategy Mega Bitcoin Purchase In The Works In a recent press release published on MicroStrategy’s official website, the software development company announced plans to raise $500 million in convertible debt offerings to purchase more Bitcoin. Just a few days ago the company had sold approximately $800 million in convertible debt offerings, using the proceeds of the sale to acquire about 12,000 BTC valued at about $821.7 million at the time.\u00a0 Related Reading: Shiba Inu Whales Are Accumulating SHIB, Do They Know Something You Don\u2019t? Quite frankly, MicroStrategy seems to be on a full-blown Bitcoin acquisition spree, potentially attributed to the cryptocurrency\u2019s massive bullish rallies recently and its surge to new all-time highs. As of March 11, 2024, the business intelligence firm possesses a total of 205,000 BTC, worth over $15 billion based on CoinMarketCap\u2019s Bitcoin price of $73,411, at the time of writing.\u00a0\u00a0 With its latest purchase of 12,000 BTC, MicroStrategy has finally surpassed the Bitcoin holdings of BlackRock\u2019s Spot Bitcoin Exchange Traded Fund (ETF). Additionally, the software development company has secured the top position as the leading public company with the largest Bitcoin holdings, surpassing the holdings of both Tesla and Coinbase. As of March 2024, MicroStrategy\u2019s market capitalization has surged to $29.96 billion, reflecting an increase of 10.85% in the last 24 hours. The company is also presently ranked as the world\u2019s 642nd most valuable company by market capitalization.\u00a0 MicroStrategy Sets Sights On Convertible Senior Notes Offerings Since the start of the year, MicroStrategy has purchased nearly 16,000 BTC. This time around the company has chosen to raise capital through convertible senior notes, marking a shift from the previous year when most of its funds for acquiring BTC were generated from equity.\u00a0 According to Market Watch\u2019s report, the business intelligence firm\u2019s stock value has also been on the rise recently, with MSTR prices witnessing an impressive 145% increase in a month.\u00a0 Related Reading: Ethereum Is Not Done: Crypto Analyst Sets New $5,000 Target As stated in its press release, the company intends to sell convertible senior notes to qualified institutional buyers. MicroStrategy has revealed plans to grant early purchasers of the notes an option to buy up to an additional $75 million worth of the notes within 13 days after the initial issuance.\u00a0 The software development firm has disclosed that the notes will remain unsecured, with interests payable semi-annually starting in September 2024. Additionally, MicroStrategy will have the right to redeem the notes from March 2028 or holders can request for the company to make a repurchase, with conversion terms determined at the offering\u2019s prices. The proceeds and excess funds generated from its upcoming $500 million convertible senior notes sale will be used to expand MicroStrategy\u2019s Bitcoin holdings and for general corporate purposes.\u00a0 BTC price falls to $72,700 | Source: BTCUSD on Tradingview.com Featured image from The Guardian, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":597851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,435,656,679,1119,89185,1122,1144,78790,81299],"class_list":["post-597824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-adoption","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-microstrategy"],"acf":[],"yoast_head":"\n
Brace For Impact: MicroStrategy Is Planning Another $500 Million Bitcoin Purchase<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n