Michael Saylor’s Strategy Acquires $1.99 Billion in Bitcoin
- Strategy, formerly MicroStrategy, purchased 20,356 bitcoins for approximately $1.99 billion.
- The acquisition follows a brief pause in BTC purchases and share sales.
- A $2 billion private offering of convertible senior notes due in 2030 was completed.
- The notes have a 0% coupon and are convertible at a 35% premium over the current stock price.
- Investors can convert each $1,000 note into 2.3072 shares of Class A common stock at $433.43 per share.
Strategy has resumed its Bitcoin acquisition strategy by purchasing over $1.99 billion worth of BTC using proceeds from a recent convertible notes offering.
Source (2.6)https://coingape.com/michael-saylors-strategy-expands-bitcoin-holdings-with-2b-purchase/?rand=24432
