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Form 8-K · Current Report · Filed 2024-03-11

MicroStrategy Announces Acquisition of Bitcoins Using Convertible Notes Proceeds

On March 11, 2024, MicroStrategy Incorporated announced the acquisition of approximately 12,000 bitcoins for $821.7 million in cash, using $781.1 million of proceeds from a recent convertible senior notes offering and $40.6 million of excess cash.

Filer
MicroStrategy Inc. MSTR · NASDAQ
Filed
Accession
0001193125-24-064331
CIK
0001050446
Signal
Medium impactTechnology

Details

The purchase was made at an average price of $68,477 per bitcoin, inclusive of fees and expenses. This transaction increased MicroStrategy's total bitcoin holdings to approximately 205,000 bitcoins, acquired at an aggregate purchase price of $6.91 billion and an average price of $33,706 per bitcoin, inclusive of fees and expenses.

Items reported

Item 8.01

Other Events

Convertible Notes Offering Strategic Partnership Announced Corporate Update

Market reaction

Close before filing

$142.56

Next session

+11.8%

Since filing

-34.6%

Latest close

$93.28

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from MSTR reporting the same item, with the next session's move:

About MicroStrategy Inc.

MicroStrategy Inc. is a prominent business intelligence company that specializes in providing robust analytics solutions. The company's primary function is to offer enterprise analytics and mobility software, designed to help organizations harness the power of large datasets to drive decision-making processes. MicroStrategy's platform enables businesses across various sectors, including finance, healthcare, manufacturing, and retail, to analyze data and generate valuable insights into operations and market trends. Key features of MicroStrategy's offerings include its ability to deliver high-performance analytics at scale, facilitate mobile intelligence, and support data visualization. With a strong emphasis on user-friendly interfaces, the company ensures that even complex data insights are accessible to decision-makers and analysts alike. MicroStrategy has also gained significant attention in the financial markets for its strategic investments in Bitcoin, reflecting its interests in digital currency as a part of corporate asset strategy. As such, the company continues to play a pivotal role in the evolving landscape of enterprise analytics, while also engaging with the broader discourse around cryptocurrency integration in business operations.

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