MicroStrategy, a business intelligence firm and a major Bitcoin (BTC) investor, is acquiring more BTC amid the recent cryptocurrency market rally.
MicroStrategy co-founder and former CEO Michael Saylor took to Twitter on March 27 to announce that the company has paid off its $205 million loan to Silvergate.
Citing a Form 8-K filed with the US Securities and Exchange Commission, Saylor emphasized that MicroStrategy repaid Silvergate’s loan at a 22% discount.
The company also acquired a significant amount of Bitcoin, buying 6,455 BTC for $150 million, or at an average price of $23,238 per coin as of March 23, the former CEO said. With the purchase, MicroStrategy has increased its total Bitcoin holdings to 138,955 BTC, purchased for $4.1 billion at an average of $29,817 per coin, Saylor said.
MicroStrategy repaid its $205 million Silvergate loan at a 22% discount. As of 03/23/23, $MSTR purchased an additional ~6,455 bitcoins for ~$150 million at an average of ~$23,238 per #bitcoin & held ~138,955 BTC purchased for ~$4.14 billion at an average of ~$29,817 per bitcoin. https://t.co/ALp9VLkTpt
—Michael Saylor⚡️ (@saylor) March 27, 2023
This is a developing story, and more information will be added as it becomes available.
