Michael Saylor’s Bitcoin Bonanza: You Won’t Believe How Much He Just Spent!

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Ah, Michael Saylor! The man, the myth, the Bitcoin aficionado. Just when you thought he’d taken a breather from his digital treasure hunt, he’s back at it again, like a kid in a candy store—if the candy were made of blockchain and the store was a virtual reality. Yes, folks, Michael Saylor’s Strategy (formerly known as MicroStrategy, but who’s counting?) has decided to dive headfirst into the Bitcoin pool, splashing around with a staggering $1.99 billion. That’s right, billion with a ‘B’! 💰

Michael Saylor’s Strategy Expands Bitcoin Holdings with $2B Purchase

In a move that can only be described as “bold” or perhaps “slightly unhinged,” Saylor’s Strategy has just completed a $2 billion private offering of convertible senior notes due in 2030. Yes, you heard that right—2030! That’s practically a lifetime in the crypto world, where yesterday’s news is already ancient history. These notes come with a 0% coupon, which is a fancy way of saying, “We’re not paying you anything, but trust us, it’s a good deal!”

After deducting expenses (because who doesn’t love a good deduction?), the net proceeds amounted to approximately $1.99 billion. The company has assured us that these funds will be used for “general corporate purposes,” which, let’s be honest, is code for “buying more Bitcoin.” Because why not? It’s not like there are any other pressing corporate needs, like, say, office supplies or coffee for the break room. ☕

Now, here’s where it gets really interesting: the convertible notes allow investors to convert each $1,000 note into 2.3072 shares of Strategy’s Class A common stock at a price of $433.43 per share. That’s a premium over the recent market price, which is just a delightful way of saying, “You’re going to pay more for this, but it’s totally worth it!” And if that wasn’t enough, there’s an option for the initial purchasers to buy an extra $300 million in notes, available until February 27, 2025. Because who doesn’t want to be tied to a financial instrument that sounds like it was designed by a committee of accountants? 📈

So, between February 18 and February 23, 2025, Strategy has managed to acquire 20,356 Bitcoins at an average price of $97,514 per BTC. That’s a lot of Bitcoin, folks! If you’re keeping score at home, that’s a hefty investment in a currency that can swing wildly from “I’m a millionaire!” to “Oops, I’m broke!” in the blink of an eye.

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2025-02-24 17:56