American business intelligence company MicroStrategy has acquired an additional 4,167 BTC at an average price of $45,714 per coin. With the latest purchase, the Virginia-based firm now owns 129,218 BTC, by far the largest Bitcoin stash out of any publicly-traded company.
Key takeaways:
- MacroStrategy, a subsidiary of MicroStrategy, recently announced it borrowed $205 million through a Bitcoin-collateralized loan from Silvergate Bank to expand its exposure to the world’s largest crypto.
- According to an SEC filing, MicroStrategy holds an aggregate of roughly 129,218 bitcoins, acquired for approximately $3.97 billion, which means the company spent on average $30,700 per BTC.
- MicroStrategy made its first BTC purchase in August 2020. Given Bitcoin’s current market rate of roughly $45,880, the company is currently up over 51% on its cryptocurrency investment to date.
- MicroStrategy Founder and CEO Michael Saylor thinks that weakening global currencies and general asset inflation will spark the “flight of capital from cash, debt, & value stocks to scarce property like bitcoin.”
- With the latest acquisition, MicroStrategy now holds almost three times as many BTC as electric car manufacturer Tesla, which is, according to data from Bitcoin Treasuries, the second-largest owner of BTC among publicly traded companies.
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.
