MicroStrategy Boosts Bitcoin Holdings to 140K with New Purchase

6. April 2023 Aus Von admin

• MicroStrategy, a business intelligence giant founded by Michael Saylor and listed on NASDAQ, has made another purchase of 1,045 bitcoin worth $29.3 million.
• This purchase rounded up the company’s massive BTC stash to 140,000 and it was made at an average price of $28,016.
• The firm had previously taken a loan from Silvergate Bank which it repaid with the proceeds from its first purchase of 6,500 BTC in March 2021.

MicroStrategy’s Latest Bitcoin Purchase

Michael Saylor-founded business intelligence giant MicroStrategy announced its latest purchase of 1,045 bitcoin for $29.3 million at an average price of $28,016 hours ago. This increased the company’s hold on bitcoin to 140K.

Background

The NASDAQ-listed firm began accumulating bitcoin in March when it bought another batch of 6,500 BTC after several months of keeping relatively quiet when the cryptocurrency’s price was struggling below $20,000. It also repaid a $205 million loan taken a year earlier from Silvergate Bank with the proceeds from this purchase.

MicroStrategy’s Bitcoin Holdings

MicroStrategy has acquired nearly 140K BTC for just under $4.17 billion at an average price of around $29,803 per coin since August 2020 when it started its accumulation strategy.

Repayment Of Loan

The firm used the proceeds from its first major purchase in March 2021 to repay a loan that had been taken out one year earlier from Silvergate Bank for approximately 205 million dollars.

Conclusion

With its latest acquisition worth 29 million dollars at an average price of 28 thousand dollars per coin, MicroStrategy now holds over 140 thousand bitcoins which have been purchased for almost 4 point 2 billion dollars at an average cost of 29 thousand 803 dollars per coin since last August when they began their accumulation strategy