The second note offering took three days to complete. MicroStrategy then spent five days purchasing bitcoin, with the market seeing a sharp bounce on the announcement of MicroStrategy completing its offering before tumbling downwards. MicroStrategy bought 19,452 bitcoin at an average price of $52,765 in this round.
The current note offering took seven days and was completed yesterday. MicroStrategy is set to purchase bitcoin worth $500 million in the upcoming days, which will likely lead the bitcoin balances of MicroStrategy to surpass 100,000 BTC. This time, the note announcement coincided with a local top, and the announcement did not seem to have any impact on the price. This could suggest that many have been front-running MicroStrategy this time around.