Michael Saylor signals Strategy's new Bitcoin purchase after one-week break
Key Takeaways
- Bitcoin bull Saylor just hinted at Strategy's new Bitcoin acquisition.
- The company plans a $2 billion convertible note offering for Bitcoin acquisitions.
Following a brief pause, Strategy may have resumed its Bitcoin purchase. Michael Saylor on Sunday posted the Bitcoin tracker on X, which is typically followed by a Bitcoin acquisition announcement.
Saylor’s tweet comes after Strategy announced a $2 billion convertible senior note offering on Wednesday, carrying 0% interest and maturing in 2030, with proceeds intended for general corporate purposes, including Bitcoin acquisitions.
The Tysons, Virginia-based company, which recently rebranded from MicroStrategy, currently holds 478,740 Bitcoin valued at approximately $46 billion at current prices. Its latest Bitcoin acquisition of 7,633 BTC occurred in the week ending Feb. 9, at an average price of $97,255 per coin.
Following its recent sale of Class A common stock, Strategy maintains around $4 billion of shares available for sale. The firm often uses proceeds from these sales to finance its next BTC purchase.
Strategy has invested approximately $31 billion in Bitcoin at an average price of $65,000 per coin, generating nearly $15 billion in unrealized gains.
Bitcoin experienced volatility this week, reaching $99,000 on Friday before pulling back below $95,000 following a $1.4 billion hack targeting Bybit, according to CoinGecko data .
The digital asset currently trades at around $95,700, showing a slight decline over the past 24 hours.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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