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MicroStrategy procures additional $191M in Bitcoin

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by Kurt Ebenzer
5 April 2022
MicroStrategy procures additional $191M in Bitcoin

Source: Unsplash

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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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Kurt Ebenzer

Kurt Ebenzer

Kurt is an experienced writer with vast experience in documentation and interpretive math. His path to crypto journalism starts with Ourbitcoinnews and he hopes to shine new light in the noisy crypto media space.

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