Hold onto your hats, folks! It looks like Bitcoin is on a rollercoaster ride, heading towards a potential $95,000 mark. In a move that has everyone buzzing, Strategy (you might remember it as MicroStrategy) recently completed a whopping $2 billion offering of convertible notes. And guess what? They turned around and snagged some Bitcoin with that cash! Talk about making waves in the crypto ocean.
Michael Saylor, the mastermind and co-founder of Strategy, just revealed that they've scooped up an impressive 20,356 BTC at an average price of $97,514. This latest crypto haul boosts their stash to a jaw-dropping 499,096 BTC, which they’ve amassed for a cool $33.1 billion. With Bitcoin's current value, this treasure trove is now worth a staggering $47.4 billion, landing the company a sweet $14 billion paper gain.
This Bitcoin bonanza comes hot on the heels of Strategy’s announcement about raising $2 billion through convertible notes, all without a coupon, and with a 35% premium. Meanwhile, the company's shares have been on a bit of a rollercoaster too, having plunged over 12% in the last five days alone. They're down 16.5% for the month but have soared 105% over the past six months, currently hovering just under $300.
As for Bitcoin itself, it's having its own adventure. After dipping below $96,000 earlier today, it’s teetering on the edge of $95,000, a level it hasn't seen since last week's tumble. Hold tight, because in the world of crypto, anything can happen!
