In a recent SEC filing, business intelligence software company MicroStrategy announced the purchase of an additional 6,455 Bitcoin for approximately $150 million, at an average price of $23,238 per Bitcoin.
This brings their total Bitcoin holdings to 138,955, which were acquired for around $4.14 billion.
MicroStrategy also revealed that it had prepaid its $161 million Silvergate loan, originally due in 2025, which was collateralized by certain Bitcoin assets owned by its subsidiary, MacroStrategy.
MicroStrategy’s initial investment in Bitcoin as a reserve asset in 2020, led by former CEO Michael Saylor, aimed to hedge against potential inflation and currency devaluation risks. Despite experiencing significant losses in 2022, the company has remained steadfast in its investment strategy, continuing to invest in its flagship digital asset.
As of the time of writing, Bitcoin is trading at $27,162 on the Bitstamp exchange, with MicroStrategy’s investments affecting its performance.
As MicroStrategy expands its Bitcoin holdings, only time will tell if its ongoing investment strategy in the largest digital asset will pay off in the long run.
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