Microstrategy Spends $200 Million More on Bitcoin, Raising Total Holdings to 129,218 BTC – Microstrategy, a Nasdaq-listed software company, has purchased more bitcoin through its subsidiary, Macrostrategy. Tuesday, CEO Michael Saylor tweeted:
“Macrostrategy has acquired an additional 4,167 bitcoins for $190 million at an average price of $45,714 per bitcoin. Microstrategy has 129,218 bitcoins worth $3.97 billion, with an average price of $30,700 per bitcoin as of 4/4/22.”
According to data, the price of bitcoin is $46,819 at the time of writing. It has increased by 14% in the last two weeks and 19% in the last 30 days.
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Last month, Macrostrategy received a $205 million BTC-backed loan from Silvergate Bank to buy more bitcoin.
Microstrategy reported that Silvergate Bank “has given a $205 million term loan to Macrostrategy LLC under its Silvergate Exchange Network (SEN) Leverage program.”
“The interest-only term loan is secured by specific bitcoin maintained in Macrostrategy’s collateral account with a custodian mutually authorized by Macrostrategy and Silvergate” according to the company.
The company’s most recent BTC purchase prior to Tuesday was 660 bitcoins in February.
BTC has long been a favorite of Saylor’s. “I see signs of a lot more institutional adoption, increased adoption among macro and other hedge funds,” he stated during his company’s Q1 earnings call. We’re excited about the next wave of institutional adoption, which I believe will be fueled by people becoming more informed and aware of what digital property is.”