MicroStrategy Inc. (NASDAQ: MSTR), the $96 billion company renowned for its bold Bitcoin (BTC) strategy, has done it again. The tech giant has raised an astounding $3 billion to fund another major Bitcoin purchase.
What’s behind this aggressive bet on Bitcoin? Read on as we break down the numbers, the strategy, and the effects of this record-breaking move.
Earlier this week, MicroStrategy launched a private offering of $2.6 billion in 0% convertible senior notes due in 2029. The offering exceeded expectations, raising an additional $400 million for a total of $3 billion. These funds will be used to purchase more Bitcoin, with the transaction expected to close by the end of this week.
This follows a major acquisition earlier in the week when MicroStrategy bought 51,780 BTC, valued at approximately $4.6 billion. The company now holds 331,200 Bitcoins, making it one of the largest institutional Bitcoin investors globally.
Bitcoin’s price recently soared to an all-time high (ATH) of $99,000, fueled by increasing institutional interest. This surge also lifted MicroStrategy’s stock (MSTR), which gained over 21% in just five days, closing at around $408 on Friday, November 22.
MicroStrategy’s aggressive strategy has influenced other major firms to follow suit. For instance, MARA Holdings recently announced the closure of a $1 billion convertible debt offering at 0% interest, the largest ever for a Bitcoin mining company.
Institutional and National Adoption on the Rise
Beyond corporations, nation-states are showing increasing interest in Bitcoin, potentially marking a new era of adoption. At the same time, U.S. spot Bitcoin ETFs, led by BlackRock’s IBIT, have been a significant success.
Data shows that U.S. spot Bitcoin ETFs now manage approximately $103.3 billion in assets, an impressive milestone within just one year of their introduction.
As of November 2024, MicroStrategy owns 331,200 Bitcoin (BTC), making it the largest corporate holder of the cryptocurrency
As of November 2024, MicroStrategy’s Bitcoin holdings are worth approximately $31.2 billion, based on its 331,200 BTC and the current market price of Bitcoin
While others test the waters, MicroStrategy dives in headfirst, proving that bold moves in crypto can pay off big.
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