MicroStrategy procures additional $191M in Bitcoin

Business Intelligence firm MicroStrategy has revealed its Bitcoin purchase for the months of February and March, and it did not disappoint. The company announced in a regulatory filing Tuesday that it has procured another $190.5 million worth of Bitcoin through its subsidiary MacroStrategy.

In total, the Nasdaq-listed firm acquired 4,167 BTC at an average price of $45,714 per bitcoin between February 15, 2022, and April 4, 2022. With the latest purchase, MicroStrategy now holds 129,218 bitcoins, acquired at an “aggregate purchase price of approximately $3.97 billion and an average purchase price of approximately $30,700 per bitcoin.”

At the time of writing, MicroStrategy’s total Bitcoin holding is equivalent to about $5.9 billion, given the currency’s current price levels of $45,827. The company last revealed its holding in February when it purchased $25 million worth of Bitcoin.

Funding for the latest purchase likely came from Silvergate Bank, which recently provided a loan of $205 million to MacroStrategy. MacroStrategy obtained the funds by collateralizing $820 million worth of bitcoin for the interest-only term loan. At the time, the company said it will use the loan to accumulate more bitcoins.

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