Main navigation

MicroStrategy Buys Another $190 Million Worth of Bitcoin

Tue, 04/05/2022 - 12:33
article image
Alex Dovbnya
MicroStrategy has scooped up another $190 million worth of Bitcoin, extending its impressive buying spree
MicroStrategy Buys Another $190 Million Worth of Bitcoin
Cover image via
Read U.TODAY on
Google News

Business intelligence firm MicroStrategy has acquired another $190.5 million (4,167 Bitcoins) worth of Bitcoin over the period between Feb. 15 and April 4, according to an April 5 regulatory filing.

The Tysons, a Virginia-based company, shelled out $45,714 per coin on average. MicroStrategy's average purchase price currently stands at $30,700, including fees and expenses.

As reported by U.Today, MicroStrategy announced its previous Bitcoin purchase of $25 million in early February.

The Michael Saylor-helmed company has spent nearly $4 billion on purchasing Bitcoin since adopting the flagship cryptocurrency as its primary treasury reserve asset in April 2020.

Ripple Is Not Challenging SEC's Redactions
The total number of Bitcoins held by MicroStrategy now stands at 129,218 (roughly $6 billion at press time).

The world's largest cryptocurrency is currently trading slightly in the green, sitting at the $46,700 level on major spot exchanges. Bitcoin, however, is still 32.69% away from its record peak despite the recent comeback.

No Bitcoin-denominated bonds

The most recent purchase comes after MicroStrategy took out a $205 million loan through MacroStrategy, its recently formed subsidiary, in order to buy more Bitcoin. It secured the loan via crypto-focused Silvergate Bank.

The company did not go as far as issuing Bitcoin-denominated bonds in order to finance its massive purchases. Saylor recently told Bloomberg that the cryptocurrency market was not mature enough for such a product. Hence, he opted for an old-fashioned loan from a bank in lieu of more exotic options.

Shares of MicroStrategy are up 1.74% in pre-market trading. The stock is still down 10% on a year-to-date basis, slightly underperforming Bitcoin.

Because of its massive exposure, the company has effectively turned into a cryptocurrency play. Its stock continues to trade in tandem with Bitcoin.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at