MicroStrategy’s Bitcoin Stash Exceeds 250,000 BTC Following Half-Billion Dollar Acquisition
MicroStrategy raised $1.01 billion through the sale of convertible senior notes to acquire more Bitcoin and redeem higher-yielding securities. The company invested $458 million in Bitcoin between September 13 and 19, increasing its holdings to approximately 252,220 Bitcoin, valued at around $15.8 billion. The notes carry a 0.625% interest rate and mature in 2028, marking the fourth issuance this year for Bitcoin financing. MicroStrategy is redeeming $500 million of 6.125% notes due in 2028 to lower borrowing costs. Under Michael Saylor's leadership, MicroStrategy has shifted from software to a crypto investment focus. Bitcoin's price has rebounded to around $63,000 following a US Federal Reserve rate cut, with key support levels identified at $61,700 and $60,000. A successful consolidation above $63,000 could lead to testing the $64,000 resistance level.
