MicroStrategy Inc. (NASDAQ: MSTR) has achieved a significant milestone, raising an impressive $603.75 million through its recent offering of convertible senior notes due 2031. Without hesitation, the company swiftly converted these funds into Bitcoin, solidifying its long-term investment strategy.
Additionally, MicroStrategy disclosed its acquisition of 9,245 Bitcoins for around $623 million, boosting its Bitcoin holdings to a remarkable 214,246 Bitcoins, currently valued at over $13.5 billion based on Bitcoin’s current price of approximately $63,000.
To provide context, BlackRock, through its iShares Bitcoin Trust (IBIT), holds approximately 237,339 Bitcoins, valued at about $15.94 billion. This highlights the intensifying competition between MicroStrategy and BlackRock in the Bitcoin investment landscape.
Based on the market demand, MicroStrategy previously anticipated to raise between $515 million and $592.3 million. However, MicroStrategy raised about $603.75, after the additional $78.75 million convertible senior notes.
According to executive chairman Michael Saylor, MicroStrategy topped the funds raised with its excess cash to acquire Bitcoins at an average price of $67,382 per coin.
Recent fluctuations in Bitcoin prices have led to increased market volatility, resulting in over $664 million liquidated from the crypto leverage market within a 24-hour period. Bitcoin’s value dropped by over 7 percent in the past day, reaching around $63,500 during the early New York session on Tuesday. The breach of the crucial support level at $69,000 earlier in the week has prompted a shift in sentiment among cryptocurrency traders, with many adopting a bearish outlook for the short term.
Despite calls to “buy the dip,” traders are seeking refuge in the stablecoins market amidst anticipation of high-impact news from the United States regarding interest rates on Wednesday.
As uncertainty looms, market participants are preparing for potential market turbulence and adjusting their strategies accordingly.
XRP’s price has been under pressure lately, with the token stuck in a bearish trend.…
Pi Network has outperformed XRP in a recent poll about cryptocurrency usage on Zypto VISA…
As market sentiment shifts and fresh momentum builds across digital assets, June 2025 presents a…
When Bitcoin first emerged, its fixed 21 million supply was mocked. Today, that scarcity has…
Singapore’s financial authority announces that unlicensed crypto firms operating overseas after June 30 will be…
On May 27, 2025, US President’s crypto czar, David Sacks, says there is a pathway…
