---
title: "MicroStrategy Buys Another 12,000 BTC After Raising Over $800M From Convertible Notes"
url: https://diffcoin.com/microstrategy-buys-another-12000-btc-after-raising-over-800m-from-convertible-notes/
description: "MicroStrategy bought the latest batch of BTC when the asset's price stood below $69,000."
published: 2024-03-11
updated: 2024-03-11
author: "Mila"
site: "Diffcoin"
---

# MicroStrategy Buys Another 12,000 BTC After Raising Over $800M From Convertible Notes

Business intelligence firm MicroStrategy has completed a $800 million fundraising effort to purchase additional Bitcoin (BTC).

The company also used some excess cash and acquired 12,000 BTC, with its total holdings now well above 200,000 BTC.

> MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes & excess cash for ~$68,477 per [#bitcoin](https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw). As of 3/10/24, [$MSTR](https://twitter.com/search?q=%24MSTR&src=ctag&ref_src=twsrc%5Etfw) hodls 205,000 [$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) acquired for ~$6.91B at average price of $33,706 per bitcoin.
> 
> — Michael Saylor⚡️ (@saylor) [March 11, 2024](https://twitter.com/saylor/status/1767158870294605904?ref_src=twsrc%5Etfw)

- According to a [press release](https://twitter.com/saylor/status/1767151492010508566?ref_src=twsrc%5Etfw), MicroStrategy raised the funds through a private offering of senior unsecured convertible notes bearing an interest rate of 0.625% per annum.
- The announcement comes less than a week after MicroStrategy founder and executive chairman Michael Saylor revealed the firm was looking to raise $600 million through the convertible notes for the purpose of expanding its BTC reserves further.
- The aggregate principal amount of the notes sold in the offering was $800 million, including a $100 million aggregate principal amount of notes issued pursuant to an option to purchase.
- After deducting the initial purchasers’ discounts, commissions, and estimated offering expenses, the net proceeds from the sale of the notes arrived at $782 million.
- Minutes later, Saylor published the update indicating that the firm had acquired an additional 12,000 BTC for just shy of $822 million.
- This brought the NASDAQ-listed intelligence giant’s overall stash to 205,000 BTC, bought at an average price of $33,706 per one. With Bitcoin’s current price tag of over $71,000, MicroStrategy’s BTC unrealized profit is around 2x.

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[Source link](https://cryptopotato.com/microstrategy-buys-another-12000-btc-after-raising-over-800m-from-convertible-notes/)