MicroStrategy has just announced raising $1.01 billion in an upsized offering to convertible notes at 0.625% Coupon and 40% conversion Premium.

The company detailed how it plans to use the funds in the press release itself, but Michael Saylor already jumped the gun and revealed a massive BTC buy.

MicroStrategy has acquired 7,420 BTC for $458.2 million at $61,750 per bitcoin and has achieved BTC Yield of 5.1% QTD and 17.8% YTD. As of 9/19/2024, we hodl 252,220 BTC acquired for apprx. $9.9 billion at $39,266 per bitcoin.

Its worth noting that the move was first announced on Sept. 17th, when the company intended to raise $700 million. They raised over a billion, hence the upsized offering, part.

The current value of MicroStrategys BTC holdings is around $15.8 billion. This means theyre sitting on paper profits of around $6 billion or approximately 60%.