Michael Saylor’s Strategy, previously known as MicroStrategy, has resumed its Bitcoin purchases, securing 20,356 BTC for approximately $1.99 billion. This acquisition follows a brief pause in its Bitcoin accumulation and share sales.
MicroStrategy’s $2 Billion Convertible Notes Offering Finalized
Strategy disclosed that it raised $2 billion through a private sale of convertible senior notes, set to mature in 2030. The notes, which carry a 0% interest rate, allow conversion into shares at a 35% premium over the current stock price. Investors can exchange each $1,000 note for 2.3072 shares of the company’s Class A common stock at a conversion rate of $433.43 per share.
Strategy has acquired 20,356 BTC for ~$1.99B at ~$97,514 per bitcoin and has achieved BTC Yield of 6.9% YTD 2025. As of 2/23/2025, we hodl 499,096 $BTC acquired for ~$33.1 billion at ~$66,357 per bitcoin. $MSTR https://t.co/mNWDaXRE7N
— Michael Saylor⚡️ (@saylor) February 24, 2025
After accounting for issuance-related expenses, the net proceeds amounted to roughly $1.99 billion. The company specified that the funds would support general corporate needs, including additional Bitcoin acquisitions. Additionally, an option for initial purchasers to acquire an extra $300 million in notes remains open until February 27, 2025.
Bitcoin Holdings Now Near 500,000 BTC
Between February 18 and February 23, Strategy purchased 20,356 BTC at an average price of $97,514 per Bitcoin. The acquisition was fully financed through the proceeds from the convertible notes offering.
As of February 23, the company’s Bitcoin reserves have grown to 499,096 BTC, with a total acquisition cost of approximately $33.1 billion. The firm’s average purchase price, factoring in fees and expenses, stands at around $66,357 per Bitcoin. This latest acquisition further cements Strategy’s position as the largest corporate holder of Bitcoin.
Strategy confirmed that it did not sell any shares under its at-the-market (ATM) equity offering program between February 18 and February 23. While the program enables the company to issue new shares to raise capital, it opted not to utilize this method during the specified period.
The decision aligns with the company’s ongoing “21/21 Plan,” which aims to raise $42 billion over three years through a combination of debt and equity to finance Bitcoin purchases. Strategy has already secured $20 billion toward this target, primarily through fixed-income securities.
Also Read: US State House Representatives Reject Montana Bitcoin Reserve Bill
