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.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.