MicroStrategy, a business led by Michael Saylor, has added 1,045 bitcoin to its holdings between March 23 and April 4, according to a Securities and Exchange Commission filing.
The company spent a total of $23.9 million on the purchase, at an average price of $28,016 per bitcoin. This latest acquisition brings the company’s bitcoin holdings to around 140,000 BTC, worth about $4 billion at the current market price of $28,500.
The overall average purchase price for their holdings stands at $29,803, reflecting their long-term bullish outlook on the digital money. Earlier in March, the company had announced that it bought 6,455 bitcoin for $161 million.
Alongside this purchase, the company also revealed that it had fully paid off its loan from Silvergate Bank, which was valued at $205 million before the bank’s failure. MicroStrategy’s timely repayment of the loan came unexpected for those mainstream journalists who projected MicroStrategy to be financially stressed.
While the company’s sound financial management might have seemed risky, following the news, MSTR’s stock soared by 1.2% in premarket trading, in conjunction with bitcoin’s 1% overnight gain.
