MicroStrategy
MSTR,
has purchased 1,045 bitcoin
BTCUSD,
for around $29.3 million in cash, according to an U.S. Securities and Exchange Commission filing on Wednesday. MicroStrategy purchased the token between March 24 and April 4, along with its subsidiaries, for an average price of approximately $28,016.
Michael Saylor, the executive chairman and co-founder of MicroStrategy, has long been bullish on bitcoin, calling it the least controversial of all cryptocurrencies, and challenging the token’s biggest critics.
In March, MicroStrategy purchased 6,455 bitcoin, for approximately $150 million in cash, while also paying off a $205 million loan to Silvergate Bank, which was seen as a crypto-friendly bank prior to its collapse in early March.
As of April 4, MicroStrategy owns approximately $4.17 billion worth of bitcoin, or 140,000 bitcoins in total, acquired at an aggregate purchase price of approximately $29,803, according to the SEC filing. MicroStrategy shares are up 107.83% to $301.40 year-to-date, according to FactSet data, and bitcoin is up 71.96% year-to-date to $28, 407, according to CoinDesk data. But bitcoin is still far from its peak of around $65,000 in November 2021.
This post was originally published on Market Watch
