MicroStrategy buys another 786 million USD in Bitcoin

MicroStrategy purchased an additional $786 million in Bitcoin from the proceeds of its recent convertible bond offering. This public company currently holds up to 226,331 BTC.

On the evening of June 20, 2024 (Vietnam time), MicroStrategy announced to buy an additional 11,931 BTC worth 786 million USD. This is the amount of money raised after the company offered 800 million USD in bonds.

MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin.https://t.co/jE9dGqqnON— Michael Saylor⚡️ (@saylor) June 20, 2024
Previously on June 13, MicroStrategy announced plans to offer 500 million USD in convertible bonds, then re-announced 700 million USD. But in the end, it closed at $800 million.

MicroStrategy Completes $800 Million Offering of Convertible Notes at 2.25% Coupon and 35% Conversion Premium $MSTR https://t.co/qJ6awPbKjO— Michael Saylor⚡️ (@saylor) June 20, 2024
With the latest purchases, this public company is holding 226,331 BTC with an average purchase price of 36,798 USD/BTC. Thus, billionaire Michael Saylor's company is making a profit on nearly 80% of its investment portfolio.
MicroStrategy seriously entered the Bitcoin market in August 2020, its first investment was worth 250 million USD. Since then, despite persistent losses, they have continuously added Bitcoin to their reserve assets and created today's huge numbers.

Following MicroStrategy's example, many large companies and organizations around the world began to see Bitcoin as an effective investment tool. Most recently, there is the company specializing in developing and operating the Metaplanet hotel or the medical equipment manufacturer Semler Scientific.
BTC price is currently fluctuating around 66,000 USD, not much change compared to 1 day ago.