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In the evening of March 11th Asia time, MicroStrategy, the publicly-traded company holding the most bitcoins globally, announced after Monday's market close that it had once again made a significant purchase of 12,000 bitcoins, with an average price of approximately $68,477.
Last week, MicroStrategy announced a major move to issue $600 million in convertible senior notes, with the net proceeds intended for investment in bitcoin and general corporate purposes. This news was well received by the market, resulting in the final issuance amount being $200 million higher than initially announced, reaching $800 million.
Following the successful completion of the $800 million convertible bond offering and with bitcoin breaking its previous all-time high of $69,000 in November 2021, MicroStrategy gradually acquired 12,000 bitcoins for $821.7 million (between February 26th and March 10th), bringing its total bitcoin holdings to 205,000, valued at approximately $6.91 billion, with an average price of $33,706 per bitcoin.
According to data compiled by BitMEX Research as of March 8th, BlackRock's IBIT held 197,943 bitcoins, while MicroStrategy held 193,000 bitcoins. However, this data has since been revised after bitcoin broke through its previous highs on Monday the 11th. According to Bitcoin Treasuries tracking data, MicroStrategy's current bitcoin holdings exceed the combined holdings of 44 other companies, including Marathon Digital, Hut 8, Riot Blockchain, Tesla, Coinbase, and Block, Inc.
MicroStrategy's decision to further invest in bitcoin reflects their confidence in bitcoin as a strategic asset and its potential value. By diversifying their treasury assets and seizing the long-term growth opportunities presented by cryptocurrencies, their bold moves underscore their increasing interest in cryptocurrencies and solidify their key position in the evolving landscape of cryptocurrency investments.
Following bitcoin's breakthrough above $72,000 on March 11th Asia time, cryptocurrency-related stocks surged after the US stock market opened on the same day, with MicroStrategy (MSTR) rising by over 11% at the time of writing.
According to OKX market data, bitcoin has repeatedly hit new all-time highs on March 11th Asia time, showing strong momentum. As of the approach of March 12th, the highest price in the past 24 hours reached $72,665.3, setting a new record high. Please be aware of the significant volatility in intraday trading and exercise risk control. |
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Post time 21-3-2024 22:10:39
