MicroStrategy’s Bitcoin Holdings Surge to $6 Billion After $190 Million New Purchase

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Cryptocurrencies
Cryptocurrencies

MicroStrategy recently purchased 4,167 more Bitcoin for about $190,5 million, bringing its Bitcoin portfolio to 129,218 tokens, worth over $6 billion. 

The deal happened between February 15 and April 4, according to a company statement Tuesday, for an average price of $45,714 per Bitcoin. As of this moment, the largest crypto in the world is trading at around $46,000. 

“Using the capital from the loan, we’ve effectively turned our bitcoin into productive collateral, which allows us to further execute against our business strategy,” MicroStrategy CEO Michael Saylor said in Tuesday’s statement.

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The acquisition followed a $205 million loan that the firm received last month from crypto lender Silvergate Bank to purchase more BTC. The three-year term loan is collateralized by around $820 million worth of Bitcoin. 

MicroStrategy CEO Michael Saylor has long been bullish on bitcoin and has no plans on selling. He recently called bitcoin the only scarcity in the world, beating out gold, real estate, and “everything else” that can be created.