MicroStrategy Buys $786 Million in Bitcoin After Notes Sale (1)

MicroStrategy Inc. bought approximately $786 million in Bitcoin with the proceeds raised from the sale of convertible notes.

The company acquired 11,931 Bitcoin between April 27 and June 19, according to a filing Thursday with the US Securities and Exchange Commission. This is MicroStrategy’s third largest acquisition of Bitcoin following its $821 million purchase of 12,000 tokens on March 11.

The company has repeatedly tapped the debt market to <-bsp-bb-link state="{"bbDocId":"SA6N58T0AFB4","_id":"00000190-362b-d497-a7fb-fe2fd6f50000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">snap up more of the cryptocurrency this year, spending over $2.4 billion on Bitcoin in 2024 alone.

The purchases raised MicroStrategy’s overall holdings to 226,331 Bitcoin, which are valued at about ...