The Nasdaq-listed company Microstrategy has bought an additional 4,167 bitcoins. Its latest purchase has raised the company’s crypto holdings to 129,218 bitcoins.
Microstrategy Purchases More Bitcoin for Its Treasury
The Nasdaq-listed software company Microstrategy has acquired more bitcoin through its subsidiary, Macrostrategy. CEO Michael Saylor tweeted Tuesday:
Macrostrategy has purchased an additional 4,167 bitcoins for ~$190.5 million at an average price of ~$45,714 per bitcoin. As of 4/4/22 Microstrategy hodls ~129,218 bitcoins acquired for ~$3.97 billion at an average price of ~$30,700 per bitcoin.
At the time of writing, the price of bitcoin is $46,819, based on data from Bitcoin.com Markets. It has risen 14% over the past two weeks and 19% over the last 30 days.
Macrostrategy obtained a $205 million BTC-backed loan from Silvergate Bank last month in order to purchase more bitcoin.
The company’s latest BTC purchase before Tuesday was in February when it bought 660 bitcoins.
Saylor has long been bullish about BTC. He said during his company’s Q1 earnings call: “I see evidence of a lot more institutional adoption, greater adoption amongst macro and other hedge funds … We look forward to the next wave of institutional adoption that, I think, should be driven as people get more educated and more aware of what digital property is.”
What do you think about Microstrategy buying more bitcoin? Let us know in the comments section below.