MicroStrategy Drops $190.5 Million Acquiring 4,167 Bitcoin

MicroStrategy Inc (NASDAQ: MSTR) continues to buy up bitcoin, and it appears that their rate of purchasing may be increasing yet again. The firm this morning put out its latest update on purchases of the crypto, marking the first update on the topic since February 1, when it announced the purchase of $25.0 million worth of crypto.

The latest round of purchase data is for purchases conducted between February 15 and April 4, 2022. The company reportedly spent $190.5 million acquiring a further 4,167 bitcoin via its MacroStrategy LLC subsidiary. The bitcoin was purchased at an average price of $45,714 per each.

With the latest purchase, the company now has total holdings of 129,218 bitcoin, which has a value of $3.97 billion. The average purchase price meanwhile has climbed from $30,200 per coin to $30,700 per coin since the last update.

The purchase notably follows MacroStrategy last week obtaining a $205 million loan for the purpose of acquiring additional bitcoin. The loan, which was collateralized via $820.0 million in bitcoin, saw gross proceeds of $204.7 million – meaning either the company didn’t actually conduct any purchases until the closing of that financing last week, or it has significant further capital to plow into acquiring more bitcoin.

Microstrategy last traded at $501.26 on the Nasdaq.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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