key takeaways
- MicroStrategy acquired 1045 BTC over the past week.
- The company now has 140,000 BTC.
- It recently paid off its $205 million loan to Silvergate Bank at a 22% discount.
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MicroStrategy increased its bitcoin stack once again. The company now owns 140,000 BTC, worth $3.9 billion at today’s prices.
additional 1,045 BTC
Michael Saylor continues to add to his Bitcoin bet.
MicroStrategy co-founder Announced today on Twitter that the company had purchased an additional 1,045 BTC for approximately $29 million at an average price of $28,016 per coin. MicroStrategy now has 140,000 BTC, a sum worth $3.9 billion at the time of writing. Saylor indicated in his tweet that MicroStrategy’s average acquisition price was $29,803 per bitcoin.
MicroStrategy stated last week that it had repaid its $205 million loan to Silvergate Bank after the bank’s sudden demise. The loan was collateralized with 34,619 of the company’s bitcoin holdings, as well as a $5 million cash reserve held at Silvergate. Because the loan had a scheduled maturity date of March 2025, MicroStrategy was able to enter into an agreement with Silvergate to pay its installments early for just $161 million, a 22% discount.
On the same day, MicroStrategy announced that it had acquired an additional 6,455 BTC for approximately $150 million, at an average price of approximately $23,238 per coin.
saylor Low from his role as CEO of MicroStrategy in August 2022. He is now the company’s CEO, with a unique focus on “Bitcoin acquisition strategy and related Bitcoin advocacy initiatives.” MicroStrategy President Phong Le replaced Saylor as CEO and took over management of the company’s day-to-day operations.
Saylor was also accused of tax fraud by Washington DC Attorney General Karl Racine in August 2022. The District of Columbia alleges Saylor never paid income taxes despite living in the district for more than 10 years. MicroStrategy was also sued for “conspiring to help [Saylor] evade taxes you legally owe on hundreds of millions of dollars you earned while living in DC.” saylor lost an offer dismiss the claims in March 2023.
Disclosure: At the time of writing, the author of this article owned BTC, ETH, and various other crypto assets.
