MicroStrategy said it bought another 4,167 Bitcoin for around $190.5 million
MicroStrategy, subsidiary MacroStrategy, announced the purchase of 4,167 Bitcoin for around $190.5 million in a filing with the Securities and Exchanges Commission (SEC).
MicroStrategy bought $190 million Bitcoin
The purchases took place between Feb. 15 and Monday, MicroStrategy said in a statement Tuesday. The Tysons Corner, Va.-based company, paid an average price of $45,714 per BTC.
Bitcoin currently trades at nearly $47,000, but it went as low as $44,200 on Friday, which may be when these coins were bought. The cash used to purchase the likely Bitcoin stems from proceeds of MicroStrategy’s recent $205 million loan from Silvergate Bank, Mark Palmer, an equity research analyst at BTIG.
The company said they now hold 129,218 BTC, worth $6 billion, bought at an average price of $30,700 for $4 billion. So they’ve made $2 billion in paper profits, making this one of the boldest bets that so far has paid off.
Bitcoins acquired over 49 days averaged 85 days, up from the 20 it received a day between December 30 and January 31. In an earlier statement, the company said it did not buy any BTC in the first half of February.
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