According to an Apr. 5 regulatory filing, business analytics firm MicroStrategy purchased another $190.5 million (4,167 Bitcoins) in Bitcoin between Feb. 15 and Apr. 4. On average, the Tysons, Virginia-based corporation, paid $45,714 for each coin. MicroStrategy’s average purchase price, including fees and expenses, is currently $30,700.
MicroStrategy previously revealed a $25 million Bitcoin purchase in early February. Since adopting Bitcoin as its principal treasury reserve asset in April 2020, the Michael Saylor-led firm has spent roughly $4 billion on Bitcoin purchases. MicroStrategy now has 129,218 Bitcoins in its possession (approximately $6 billion at press time).
On major spot markets, the world’s largest cryptocurrency is now trading marginally in the green, at $46,700. MicroStrategy took out a $205 million loan to buy more Bitcoin, and this is the most recent purchase. The loan was obtained through Silvergate Bank, a crypto-focused institution.
MicroStrategy’s stock is up 1.74 percent in pre-market trading. On a year-to-date basis, the stock is still down 10%, slightly below Bitcoin. CEO Michael Saylor has declared on several occasions that the company intends to hold bitcoin for the long term and has no plans to sell it. The average daily amount of bitcoin obtained over the 49-day period is 85, up from 20 between December 30 and January 31. The company had previously indicated that it had made no bitcoin purchases in the first half of February.
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