MicroStrategy, a business intelligence firm and a major Bitcoin (BTC) investor, is acquiring more BTC amid the recent cryptocurrency market recovery.
MicroStrategy co-founder and former CEO Michael Saylor took to Twitter on March 27 to announce that the firm has repaid its $205 million loan to Silvergate.
Citing a form 8-K filing with the United States Securities and Exchange Commission, Saylor stressed that MicroStrategy repaid the Silvergate loan at a 22% discount.
The company has also acquired a significant stash of Bitcoin, purchasing 6,455 BTC for $150 million, or at an average price of $23,238 per coin as of March 23, the former CEO said. With the purchase, MicroStrategy has increased its total Bitcoins holdings to 138,955 BTC, bought for $4.1 billion at an average of $29,817 per coin, Saylor said.
This is a developing story, and further information will be added as it becomes available.
Source: Read Full Article
-
US Presidential Candidate Defends Bitcoin, Calls Out Environmental Critics
-
FTX owes over $3 billion to its 50 biggest creditors: Bankruptcy filing
-
Bitcoin Is On The Rise And Has A Price Target Of $32,000 In Sight
-
The US will find the 'right outcome' for crypto, eventually – Coinbase CEO
-
Securities token platform launches MPC wallet for institutions