MicroStrategy Acquires 9,245 BTC, Now Holds More Than 1% of Bitcoin Total Supply
by Wilfred Samuel 
MicroStrategy has acquired an additional 9,245 bitcoins for $623 million this afternoon to increase its bitcoin holdings to 214,246 BTCs.
Just eight days after MicroStrategy purchased its last 12,000 BTCs, MicroStrategy’s executive chairman Michael Saylor, has announced that the company has increased its bitcoin holding by 9,245 BTCs worth $623 million. It was purchased at an average price of $67,382 per BTC. The bitcoin purchase was spread over eight days from March 11 to March 18.
To complete the bitcoin purchase, MicroStrategy has raised $603.75 million from convertible notes. The notes were sold to persons believed to be qualified buyers. The notes bear 0.875% interest that can be paid in arrears on March 15 and September 15 of each year. The notes will mature by 2031 unless bought back based on agreements.
Additionally, the notes can be converted to cash or MicroStrategy shares at a conversion rate of 0.4297 class A MicroStrategy stock per $1,000 principal amount of notes.
MicroStrategy Updated Bitcoin Holdings
Following this purchase, MicroStrategy now has 214,246 bitcoins acquired for $7.53 billion at an average price of $35,160 per BTC. By current bitcoin price at press time, MicroStrategy’s bitcoin is worth $13.7 billion. The company has about $6.2 billion in unrealized profits.
Notably, MicroStrategy now holds 1.02% of the total bitcoin supply which is 21 million BTCs.
After performing this bitcoin purchase, MicroStrategy ranks #390 in the US list of companies with a $25.50 billion market capitalization and its bitcoin holdings covering more than 50%. Recording a 947.32% increase within the last year.
Michael Saylor has continued to show complete trust in bitcoin as he keeps acquiring the cryptocurrency despite significant price changes. He is completely bullish on bitcoin which is why he said that “Bitcoin is Enlightenment.”
Bitcoin Price Updates
Significantly, bitcoin has moved from $73,700 to around $62,400 within the past six days and is currently trading at $64,000 per BTC. While technical analysts have discovered a support zone at $64,750, the cryptocurrency presses greater force to break the support.
