Sunday, June 1, 2025
No Result
View All Result
Clout Scoop
Subscribe To Our Newsletter
Follow Us on Google News
  • Home
  • Global News
  • Crypto News
  • NFT News
  • Stock News
  • Crypto PricesLive
    • Bitcoinlive
    • Ethereumlive
    • BNBlive
    • Solanalive
    • XRPlive
    • Dogelive
    • Shiba Inulive
    • More Currencieslive
  • Crypto Analysis
  • Crypto ConverterLive
Subscribe To Our Newsletter
Clout Scoop
Follow Us on Google News
No Result
View All Result
Clout Scoop
No Result
View All Result
Home Crypto News

MicroStrategy Buys Over 9,000 Bitcoins After Successful Fundraising

MicroStrategy Diversifies Portfolio, Raises $603.75 Million for Bitcoin Investment, Surpasses Funding Target

  • By CS Web Desk
  • March 19, 2024
  • 7:46 pm
MicroStrategy Acquires 9,245 Bitcoins Amid Funding Success - in photo Michael Saylor
MicroStrategy Acquires 9,245 Bitcoins Amid Funding Success - in photo Michael Saylor | Image source: TipRanks
ShareTweetSend

MicroStrategy Inc. (NASDAQ: MSTR) has confirmed its strategic move in the cryptocurrency market, announcing the acquisition of an additional 9,245 Bitcoins following the successful completion of an oversubscribed convertible senior notes offering. The company revealed that it raised a substantial $603.75 million from the offering of convertible senior notes due 2031.

In line with its commitment to Bitcoin as a long-term investment, MicroStrategy wasted no time in converting the raised capital into Bitcoins. The acquisition, valued at approximately $623 million, further solidifies MicroStrategy’s position in the digital currency market. Currently, the company holds a staggering 214,246 Bitcoins, surpassing a total value of $13.5 billion based on the current Bitcoin price hovering around $63,000.

ADVERTISEMENT

MicroStrategy has acquired an additional 9,245 BTC for ~$623.0M using proceeds from convertible notes & excess cash for ~$67,382 per #bitcoin. As of 3/18/24, $MSTR hodls 214,246 $BTC acquired for ~$7.53B at average price of $35,160 per bitcoin. https://t.co/oeYJGgiuy0

— Michael Saylor⚡️ (@saylor) March 19, 2024

For perspective, BlackRock, a major player in the financial market, holds about 237,339 Bitcoins through its iShares Bitcoin Trust (IBIT), with a market value of approximately $15.94 billion.

Initially targeting a funding range between $515 million and $592.3 million, MicroStrategy surpassed expectations by raising $603.75 million, inclusive of an additional $78.75 million from the convertible senior notes. Executive chairman Michael Saylor emphasized MicroStrategy’s proactive approach, leveraging excess cash to acquire Bitcoins at an average price of $67,382 per coin.

ADVERTISEMENT

Amidst these developments, the Bitcoin market continues to witness turbulence, with over $664 million liquidated from the crypto leverage market within the last 24 hours alone. The price of Bitcoin plunged by more than 7 percent in the past day, settling around $63,500 during the early New York session on Tuesday.

The recent decline follows a breach below the crucial support level at $69,000 earlier in the week, prompting a shift towards bearish sentiment among cryptocurrency traders. Despite calls to ‘buy the dip,’ traders are exercising caution, particularly amidst anticipation of high-impact news from the United States regarding interest rates scheduled for Wednesday.

ADVERTISEMENT

In response to increased volatility, many cryptocurrency traders are seeking refuge in the stablecoins market, aiming to shield themselves from market fluctuations as they await crucial developments that could further influence the cryptocurrency landscape.

MicroStrategy’s latest move underscores the growing influence of institutional players in the cryptocurrency sphere, as traditional financial entities.

DON'T MISS THE LATEST REPORTS FROM CLOUT SCOOP!

By clicking ‘Subscribe’ you agree to receive newsletter from Clout Scoop.

Check your inbox or spam folder to confirm your subscription.

Disclaimer: Clout Scoop, an independent web-3 media company, delivers real-time news and insights on global trends, cryptocurrencies, stocks, and NFTs for informational purposes only. We want to clarify that our content does not constitute financial advice, and neither Clout Scoop nor our journalists endorse or recommend specific financial actions. We do not solicit funds, provide investment recommendations, or offer financial advice that involves monetary transactions. Readers are encouraged to conduct their own research and seek professional guidance before making any financial decisions. It is important to note that any investment-related decisions made based on our articles are at the reader's own risk, and Clout Scoop and our journalists bear no responsibility for the outcomes. We appreciate our readers' discernment and advocate for a prudent and informed approach to financial matters.

CS Web Desk

CS Web Desk

Desk reports from the independent web-3 media company Clout Scoop that provides real-time news and information about global trends, crypto, stocks, NFTs, and more.

Related Posts

clout scoop token
Crypto News

Clout Scoop Announces Official Token Launch via LaunchCoin Platform

Clout Scoop Prepares Comeback with $CLOUT Token to Power the Future of Web3 Journalism
Global News

Clout Scoop Prepares Comeback with $CLOUT Token to Power the Future of Web3 Journalism

The Future of Memecoins
Crypto News

What Makes Memecoins Unique in the Crypto Space?

Mobile Ad
Clout Scoop Poster Ad Place Your Ad Here
ADVERTISEMENT
ADVERTISEMENT
Mobile Ad
Clout Scoop Poster Ad Place Your Ad Here
ADVERTISEMENT
Next Post
Terra Luna Classic Hits 5.5M Holder Milestone

Terra Luna Classic Surpasses 5.5 Million Holders

Ethereum Foundation Faces State Authority Probe

Ethereum Foundation Under Investigation, Sparks Speculation

Square Enix Invests in HyperPlay for Gaming Revolution

Square Enix Ventures into Web3 Gaming with HyperPlay Investment

  • Home
  • Global News
  • Crypto News
  • NFT News
  • Stock News
  • Crypto Prices
    • Bitcoin
    • Ethereum
    • BNB
    • Solana
    • XRP
    • Doge
    • Shiba Inu
    • More Currencies
  • Crypto Analysis
  • Crypto Converter
  • Home
  • Global News
  • Crypto News
  • NFT News
  • Stock News
  • Crypto Prices
    • Bitcoin
    • Ethereum
    • BNB
    • Solana
    • XRP
    • Doge
    • Shiba Inu
    • More Currencies
  • Crypto Analysis
  • Crypto Converter
Clout Scoop

Clout Scoop is an independent web-3 media company that provides real-time news and information about global trends, crypto, stocks, NFTs, and more.

About Us

  • About Us
  • Contact
  • Transparency

Privacy

  • Disclaimer
  • Privacy and Policy
  • Terms and Conditions

Connect

  • Contribution
  • Follow
  • Subscribe

© 2024 Clout Scoop. All Rights Reserved.

To stay updated about developments, visit Company News. | To report issues, email us at errors@cloutscoop.com

To stay updated about developments, visit Company News. | To report issues, email us at errors@cloutscoop.com

© 2024 Clout Scoop. All Rights Reserved.

  • Home
  • Crypto News
  • NFT News
  • Global News
  • Stock News
  • Crypto Prices
    • Bitcoin
    • Ethereum
    • BNB
    • Solana
    • XRP
    • Doge
    • More Currencies
  • Crypto Converter
  • About Us
    • Contact
    • Transparency
  • Privacy and Policy
    • Terms and Conditions
    • Disclaimer
  • Contribution
    • Follow
    • Subscribe
No Result
View All Result

© 2024 Clout Scoop - All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.