Founder Michael Saylor posted on X that the firm made this purchase “using proceeds from convertible notes & excess cash.” He said more institutional investors are considering owning BTC as it gets incorporated into ETFs. Saylor also believes that the halving process to be carried out in April this year will keep demand for the digital currency high.
MSTR’s share price rose 11% on Wednesday, which followed increases in the previous day this week and Friday last week. This is a 68% rise since 6 March, when it announced its debt sale. The stock climbed 180% in 2024, following a 346% rise in 2023.
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MicroStrategy has now completed its offer of 0.625% convertible notes with a due date of 2030. This gave the company net proceeds reaching about 2m, used to buy its new BTC. The company bought almost 16,000 BTC this year, and its share value has risen even faster than digital currency.
