MicroStrategy (NASDAQ:MSTR) has acquired an additional 12,000 Bitcoins, according to a security filing on Monday. The purchase, made with funds raised through a convertible note offering announced earlier in the month, resulted in MSTR shares rising more than 9% at the market open. Bitcoin was trading around $72,000 at the time of the filing.

The convertible note offering, finalized on March 8, raised a total of $800 million in principal amount. MicroStrategy founder and chairman Michael Saylor announced the acquisition on X, stating, “MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes & excess cash for ~$68,477 per bitcoin.”

Following this latest purchase, MicroStrategy’s Bitcoin holdings now stand at 205,000 BTC, acquired at an overall cost of $6.91 billion, averaging $31,500 per Bitcoin. MicroStrategy has been a prominent advocate of Bitcoin, consistently adding to its holdings as part of its strategy to hold Bitcoin as a treasury reserve asset.