MicoStrategy Purchases Another 4,167 BTC for $190.5 Million

    MicoStrategy has announced it has purchased another 4,167 BTC for around $190.5 million.

    The purchases occurred between Feb. 15 and Monday, April 4, according to an official press release.

    The Virginia-based firm paid an average price of $45,714 per bitcoin.

    The purchases were made through the company’s MacroStrategy subsidiary, according to the company.

    Mark Palmer, an equity research analyst at BTIG, told his clients the cash used to purchase the bitcoin likely comes from the proceeds of MicroStrategy’s recent $205 million loan from Silvergate Bank.

    MicroStrategy now holds a total of 129,218 bitcoins, valued at about $6 billion at the current price of about $46,742.

    CEO Michael Saylor has stated many times that MicroStrategy plans on holding for the long term and has no plans on selling.

    The bitcoin acquired across the 49-day period averages to 85 a day, up from the 20 it acquired a day between Dec. 30. and Jan. 31. In an earlier statement, the company indicated it hadn’t bought any bitcoin in the first half of February.

    Stay in the Loop

    Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    Latest stories

    - Advertisement - spot_img

    You might also like...