MicroStrategy, known as a significant Bitcoin HODLer, has further increased its Bitcoin holdings. The company announced in a press release on Thursday that it has successfully completed the sale of convertible bonds. The total nominal amount of the sold bonds was 800 million US dollars, with the net proceeds amounting to approximately 786 million US dollars after deducting discounts, commissions, and offering expenses.

The bonds were sold in a private offering to qualified institutional buyers. They are unsecured senior obligations of MicroStrategy with an interest rate of 2.25 percent per year.

Michael Saylor, CEO of MicroStrategy, confirmed on the platform X (formerly Twitter) that the funds raised have already been fully invested in the purchase of Bitcoins. "MicroStrategy has acquired an additional 11,931 BTC for approximately 786 million USD, with the purchase price being around 65,883 USD per Bitcoin," Saylor wrote. As of June 20, 2024, the company now possesses a total of 226,331 Bitcoins, which were acquired at an average price of 36,798 USD per Bitcoin.

MicroStrategy, originally a software company, has become one of the largest Bitcoin holders in the world in recent years. The company has repeatedly invested in the cryptocurrency and issued various bonds to finance those investments.

The stock of MicroStrategy is highly dependent on the price development of Bitcoin. Since the beginning of the year, the share has gained around 132 percent in value, while Bitcoin has increased by approximately 57 percent during the same period.

On Thursday, the MicroStrategy stock initially showed gains in trading on the NASDAQ but ultimately recorded a slight loss, closing with a 0.27 percent decline at $1,465.40.

This recent investment underscores MicroStrategy's continued confidence in Bitcoin as a long-term store of value, even as the volatility of the cryptocurrency market remains a challenge.