Microstrategy Spends Another $200 Million on Bitcoin

Microstrategy, a Nasdaq-listed company, has purchased an additional 4,167 Bitcoins. The company now has 129,218 crypto assets.

Microstrategy Buys More Bitcoin to Its Treasury

Microstrategy, a Nasdaq-listed software firm, has acquired more Bitcoin through its subsidiary Macrostrategy. Tuesday’s tweet from CEO Michael Saylor:

Macrostrategy purchased additional 4,167 bitcoins at a price of $45714 per bitcoin. On 4/4/22, Microstrategy had 129,218 Bitcoins in its possession. They were purchased for $3.97 Billion at an average cost of $30,000.

Based on data from Multicryptocoins.com, bitcoin’s price is currently $46,819 at the time of writing. It has increased 14% in the past 2 weeks and 19% in the last 30 days.

Macrostrategy was able to obtain a $205 million BTC-backed loan last month from Silvergate Bank in order to buy more bitcoin.

It purchased 660 bitcoins in February, its latest BTC purchase prior to Tuesday.

Saylor has been a long-time bull for Bitcoin. His company’s Q1 earnings conference saw him say: “I see evidence that institutional adoption is increasing, more adoption among macro and other hedge fund… We look forward for the next wave institutional adoption. I believe this should be driven by people becoming more educated and more knowledgeable about digital property.”