Strategy₿ Buys Almost $2B in Bitcoin

Key Points

• Strategy₿ now holds 499,096 BTC worth over $47.8 billion.
• Earlier, the company announced that it had completed a $2 billion offering of convertible notes.

Following a short break, Strategy₿ announced that it had bought more Bitcoin. The company raised its BTC holdings to 499,096 BTC.

Strategy₿’s Latest BTC Acquisition

In a new post via X, Michael Saylor announced that the company bought 20,356 BTC for $1.99 billion at an average price of $97,514 per coin.

Also, Strategy₿ has achieved a BTC yield of 6.9% YTD. As of yesterday, February 23, the company held 499,096 BTC worth over $47.8 billion.

The amount was purchased for $33.1 billion at $66,357 per coin, according to Saylor’s post.

Earlier, Saylor also announced that the company had completed a $2 billion offering of convertible notes.

Strategy₿ Completed a $2 Billion Offering

In another X post , Saylor said that the company had completed a $2 billion offering of convertible notes at 0% coupon and 35% premium, with an implied strike price of $433.43.

In the official announcement, the company said that the notes were sold in a private offering to people believed to be qualified institutional buyers.

Also, the company granted the initial purchasers of the notes an option to buy up to an additional $300 million aggregate principal amount of notes, according to the officia l press release .

Strategy₿ announced the offering on February 19 and the announcement boosted BTC’s price.

Bitcoin Trades Above $95,000

At the moment of writing this article, BTC is trading above $95,000 amidst intense volatility.

During the past week, BTC recorded strong volatility as well. The digital asset’s price fluctuated between $93,000 levels (on February 18) and prices above $99,000 on February 21.

Following the announcement of Bybit’s almost $1.5 billion hack , the crypto market suffered a downward trajectory and struggles to recover.

On that day, BTC price dropped from above $99,000 to $95,000 levels.