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MicroStrategy has purchased an additional $190 million in Bitcoin

MicroStrategy's Revenue for the Third Quarter Fell Short of its Estimates

According to MicroStrategy (MSTR), a publicly-traded business intelligence firm, the company has bought an additional lot of 4,167 Bitcoins.

At the current market price of $30,700 per bitcoin, MicroStrategy has made a profit of about $2 billion on its total investment.

According to the exchange notice, the shares were purchased between February 15th and April 4th, 2022.

Macrostrategy and Bitcoin

MacroStrategy paid about $190.5 million in cash for the purchase, which included all fees and expenses associated with the transaction.

MacroStrategy now holds around 115,110 Bitcoins out of a total of 129,218 Bitcoins controlled by the parent company.

The purchase of BTC by MacroStrategy LLC was disclosed shortly after the company acquired a loan to fund the acquisition of further BTC.

As part of a $205 million interest-only term loan, Silvergate Bank entrusted MacroStrategy with loans that were secured by bitcoins. It seems that the firm has already put the funds to good use, which is encouraging.

According to Bitcoin Treasuries, the parent company currently owns bitcoin worth 111% of its market capitalization.

The total number of Bitcoins available with Microstrategy

Following today’s BTC increase, MicroStrategy now holds 0.615 percent of Bitcoin’s total supply, up from 0.614 percent before. This is an increase from the previous 0.5 percent of the 21 million token supply.

According to CEO Michael Saylor, who made the news through Twitter, the software business has now purchased a total of 129,218 bitcoins (BTC).

It is significant that MicroStrategy continues to be the largest publicly-traded company with this amount of BTC exposure. As a result, the price changes of Bitcoin and MSTR tend to be statistically significant and positively associated with one another.


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