On Tuesday, enterprise software development company MicroStrategy Announced through a filing with the US Securities and Exchange Commission (SEC) that its subsidiary MacroStrategy acquired 4,197 Bitcoin (BTC) ($190.5 million) between February 15 and Tuesday.
MacroStrategy has purchased an additional 4,167 bitcoins for ~$190.5 million at an average price of ~$45,714 per #bitcoin. As of 4/4/22 MicroStrategy #hodls ~129,218 bitcoins purchased for ~$3.97 billion at an average price of ~$30,700 per bitcoin. $MSTRhttps://t.co/Z45OuJU5KI
โMichael Saylorโก๏ธ (@saylor) April 5, 2022
The coins were purchased at a weighted average price of $45,714, which is roughly equivalent to the price of the digital asset at press time. As a result, MicroStrategy and its subsidiaries now hold a total of 129,218 BTC, with a total aggregate purchase price of $3.97 billion and an average purchase price of $30,700 per BTC.
The week before, MacroStrategy closed a $205 million BTC-secured loan from leading fintech bank and crypto gateway Silvergate. The firm said that it would use the loan to buy more BTC, while its own BTC deposits would serve as collateral for the loan, effectively turning it into a sophisticated leveraged operation.
The microstrategy has been invest in BTC since August 2020, buying the digital asset every quarter almost constantly.
But recently, the The SEC Rejected Your Bitcoin Accounting Practices, causing its stock to plummet that day. The firm had been using methods, in part, to nullify the effects of crypto market volatility. MicroStrategy founder, chairman and CEO Michael Saylor has been a Bitcoin permabull, citing the potential of the digital asset as โhedge against inflationas part of his investment thesis.
Although last Friday, despite his bullish outlook, Saylor said that financial markets they are not ready for Bitcoin bonds and that El Salvador's Volcano Bond was even riskier than his firm's BTC-secured loan.
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