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‘MicroStrategy Gains $190M Worth of Bitcoin,’ Says Michael Saylor

Cryptocurrency Apr 06, 2022 11:30AM ET
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    • MicroStrategy announced that the company has bought $190.5 million BTC.
    • Michael Saylor, CEO of MicroStrategy, tweeted the news regarding this.
    • The company acquired Bitcoins between February 15 and April 4, 2022.

Michael Saylor, Founder, and CEO of MicroStrategy (MSTR) announced that it had acquired additional 4,167 bitcoins for nearly $190.5 million. The company gained this new achievement through its subsidiary, MacroStrategy.

In addition to the Twitter (NYSE:TWTR) post, MicroStrategy has published the official report about the Bitcoin gain on its website on April 5.

In detail, the report reads that during the period between February 15 and April 4, 2022, MicroStrategy acquired approximately 4,167 bitcoins for approximately $190.5 million in cash, inclusive of fees and expenses.

Furthermore, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 129,218 bitcoins, acquired at a price of nearly $3.97 billion and an average purchase price of approximately $30,700 per bitcoin, inclusive of fees and expenses. As of now, MacroStrategy holds nearly 115,110 of these bitcoins.

Recently, MacroStrategy closed a $205 million BTC-collateralized loan with Silvergate Bank to purchase bitcoin. The bank had issued this $205 million term loan to MacroStrategy, under the bank’s Silvergate Exchange Network Leverage program.

With respect to this, Silvergate CEO Alan Lane remarked that his company is thrilled to add MicroStrategy to its growing list of SEN Leverage borrowers. “Their innovative approach to treasury management is an exceptional example of how institutions can utilize their bitcoin to support and grow their business”, he added.

MicroStrategy is claimed to be the leading independent publicly traded analytics and business intelligence company. The company works on two strategies: for growing enterprise analytics software business to promote a vision of intelligence, and for acquiring bitcoin as a dependable store of values.

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‘MicroStrategy Gains $190M Worth of Bitcoin,’ Says Michael Saylor
 

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