MicroStrategy Increases Holdings by $600 Million, Holding 1% of Total Circulation with 9,245 Bitcoins

MicroStrategy announced the purchase of nearly 10,000 bitcoins through convertible notes and excess cash, surpassing a total of 214,246 bitcoins, which is more than 1% of the total bitcoin supply.

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MicroStrategy Completes $603.75 Million Convertible Notes
MicroStrategy Buys 9,245 More Bitcoins
MicroStrategy Holds 1% of Total Bitcoin Supply

MicroStrategy Completes $603.75 Million Convertible Notes
On March 15th, MicroStrategy announced the second issuance of $525 million in convertible notes, ultimately raising $603.75 million by the 18th.

According to previous reports and MicroStrategy’s announcement, the relevant data is as follows:

Coupon Rate: 0.875%
Conversion Price: $2,327.21
Net Proceeds: Approximately $592.3 million
Maturity Date: March 15, 2031
Interest Payment Date: Semi-annual interest payments on March 15th and September 15th each year
Put Option: The notes can be redeemed at par value (100) after September 15th, 2028
(
MicroStrategy to Issue $500 Million in Convertible Notes with Conversion Price of $2,327; JPMorgan Warns of Bubble Risk
)

MicroStrategy Buys 9,245 More Bitcoins
Following the completion of the convertible notes issuance, MicroStrategy’s founder announced the purchase of nearly 10,000 bitcoins through convertible notes and excess cash:

Amount: $623 million
Average Price: $67,382
BTC Purchased: 9,245
BTC Holdings: 214,246
Average Cost: $35,160
Current Unrealized Gain: $5.7 billion (76.24%)

MicroStrategy Holds 1% of Total Bitcoin Supply
According to Bitcoin Treasuries data, MicroStrategy’s bitcoin holdings total 214,246, accounting for 1% of the total circulating bitcoin supply. However, this is still lower than bitcoin ETF issuers such as BlackRock and Grayscale.

The data is as follows:

Fidelity: 134,888 (0.642%)
Grayscale: 368,558 (1.755%)
BlackRock: 237,339 (1.13%)
(
BTC Hits $71K! BlackRock’s IBIT Surpasses MicroStrategy in Bitcoin Holdings; GBTC Overtaken by Other ETFs
)

GBTC
MicroStrategy
Bitcoin
Grayscale
BlackRock

Further Reading:
Ether Drops Below $3.2K, Grayscale’s GBTC Sees More Outflows, CEO Confirms Fee Reduction
Bitcoin Spot ETF Sees 10 Consecutive Days of Inflows Interrupted, GBTC Sees Record Outflows