- MicroStrategy founder Michael Saylor announced the company had repaid the $205 million loan at a 22% discount.
- The company also bought 6,455 bitcoins worth $150 million.
- Saylor’s company currently holds more than 138,900 bitcoins.
MicroStrategy, the world’s largest corporate holder of Bitcoin, has revealed it recently purchased more BTC.&
The business intelligence company, founded by Bitcoin bull Michael Saylor, also announced on Monday that it had repaid the loan to the failed crypto-friendly bank Silvergate Bank.
MicroStrategy repays $250 million loan, buys 6,455 BTC
Saylor, referencing his company’s latest SEC filing, said that MicroStrategy has now fully repaid the $205 million loan it borrowed from Silvergate in March 2022. The company reportedly cleared the loan principal with a 22% discount, with Friday’s payoff seeing MicroStrategy clear the collateralized loan at $160 million.
As a result, the company recouped its 34,619 BTC that had been pledged as collateral.
MicroStrategy also confirmed the purchase of 6,455 BTC, acquired for a total of $150 million and at an average $23,238 a coin. Saylor’s bitcoin strategy now includes a total Bitcoin haul of 138,955 BTC since the company’s first move in 2020.&
So far, the total BTC holdings have been acquired at a cost of $4.1 billion, with each bitcoin purchased at the average price of $29,817.
MicroStrategy repaid its $205M Silvergate loan at a 22% discount. As of 3/23/23, $MSTR acquired an additional ~6,455 bitcoins for ~$150M at an average of ~$23,238 per #bitcoin & held ~138,955 BTC acquired for ~$4.14B at an average of ~$29,817 per bitcoin. https://t.co/ALp9VLkTpt
— Michael Saylor⚡️ (@saylor) March 27, 2023
Bitcoin currently trades around $27,809 while MicroStrategy shares closed at $256.67 on Friday and were 0.07% down at 9.10 am ET ahead of US markets opening on Monday.
The post MicroStrategy buys another $150 million worth of Bitcoin appeared first on CoinJournal.
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