MicroStrategy, the business intelligence software company, has acquired an additional 6,455 Bitcoins for approximately $150 million at an average price of $23,238 per Bitcoin, according to a recent SEC filing.
The company now holds a total of 138,955 Bitcoins, which were purchased for an aggregate price of around $4.14 billion.
In the SEC filing, MicroStrategy revealed that it had voluntarily prepaid its $161 million Silvergate loan, which was originally due on March 23, 2025. The loan was collateralized by certain Bitcoin assets owned by MacroStrategy, a wholly-owned subsidiary of MicroStrategy.
MicroStrategy initially invested in the biggest cryptocurrency as a reserve asset in 2020, when it was led by former CEO Michael Saylor.
This decision aimed to hedge against potential inflation and currency devaluation risks.
Although the company experienced significant losses in 2022, it remained undeterred, with Saylor and MicroStrategy continuing to invest in the flagship digital asset.
At the time of writing, Bitcoin is trading at $27,936.35 on the Bitstamp exchange, with MicroStrategy affecting its performance.
As MicroStrategy continues to expand its Bitcoin holdings, it remains to be seen whether its ongoing investment strategy in the largest digital asset will pay off in the long run.
Arman Shirinyan
Vladislav Sopov
Dan Burgin