MicroStrategy continues to accumulate Bitcoin

CoinWorld reports:
Bitcoin Bull Market
MicroStrategy
has once again reaffirmed its strong commitment to Bitcoin, announcing the acquisition of an additional 7,420 BTC for approximately $458.2 million between September 13 and September 19.
Founder Michael Saylor stated in a post on Twitter/X that this latest acquisition brings the company’s total Bitcoin holdings to 252,220 BTC, valued at about $15.8 billion.
MicroStrategy acquired 7,420 BTC for approximately $458.2 million, at about $61,750 per share
#Bitcoin
The Bitcoin return QTD is 5.1%, and year-to-date it is 17.8%. As of September 19, 2024, we hold 252,220 BTC, acquired for approximately $9.9 billion at a price of $39,266 per Bitcoin.
$MSTR
https://t.co/JUtgztpzBu
–Michael Saylor⚡️ (@saylor)
September 20, 2024
The company has been at the forefront of institutional Bitcoin adoption, having made significant investments in cryptocurrency since the end of 2020. This latest acquisition further solidifies MicroStrategy’s status as one of the largest corporate holders of Bitcoin.
Funding for its Bitcoin
MicroStrategy has also been actively raising capital. In September, the company completed a large private placement of $1.01 billion in convertible senior notes maturing in 2028. Proceeds from this issuance will be used to repay existing debt and potentially acquire more Bitcoin.
Just last week, MicroStrategy announced plans to raise $700 million to purchase more Bitcoin, echoing a similar initiative from March.
The tech giant stated that it plans to use the proceeds from the sale to redeem $500 million in senior secured notes maturing in 2028, including interest, at a total cost of $523.8 million. The remaining funds will be used to purchase more Bitcoin and for general corporate purposes.
MicroStrategy took a similar approach in March, raising $700 million through convertible senior notes to acquire more Bitcoin.
As of September 23, 2024, MicroStrategy’s stock price (MSTR) was $144.78, up $7.91 (5.78%) over the past five days. The company’s stock price is typically correlated with the price of Bitcoin. As Bitcoin’s value fluctuates, MicroStrategy’s stock price has also been volatile, having increased by 111.3% year-to-date.


Meanwhile, the price of Bitcoin itself remains unstable. At the time of publication, according to CoinMarketCap data, Bitcoin was trading at $63,859.42, up 9.25% over the past week