U.S. Markets open in 3 mins
  • S&P Futures

    3,952.50
    +15.75 (+0.40%)
     
  • Dow Futures

    33,719.00
    +94.00 (+0.28%)
     
  • Nasdaq Futures

    11,555.25
    +45.75 (+0.40%)
     
  • Russell 2000 Futures

    1,815.80
    +7.80 (+0.43%)
     
  • Crude Oil

    74.20
    +2.19 (+3.04%)
     
  • Gold

    1,800.20
    +2.20 (+0.12%)
     
  • Silver

    23.23
    +0.31 (+1.34%)
     
  • EUR/USD

    1.0533
    +0.0019 (+0.18%)
     
  • 10-Yr Bond

    3.4890
    +0.0810 (+2.38%)
     
  • Vix

    22.75
    +0.58 (+2.62%)
     
  • GBP/USD

    1.2215
    +0.0010 (+0.08%)
     
  • USD/JPY

    136.6760
    +0.1520 (+0.11%)
     
  • BTC-USD

    16,853.85
    -2.35 (-0.01%)
     
  • CMC Crypto 200

    396.54
    -5.50 (-1.37%)
     
  • FTSE 100

    7,484.38
    -4.81 (-0.06%)
     
  • Nikkei 225

    27,574.43
    -111.97 (-0.40%)
     

MicroStrategy Buys $191M Worth of Bitcoin

Don't miss CoinDesk's Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.

MicroStrategy (MSTR), a bitcoin-accumulating business-intelligence software company, said it bought another 4,167 BTC for around $190.5 million.

  • 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 bitcoin.

  • The cash used to purchase the bitcoin likely stems from proceeds of MicroStrategy's recent $205 million loan from Silvergate Bank, Mark Palmer, an equity research analyst at BTIG, told clients in a note Tuesday.

  • MicroStrategy now holds a total of 129,218 bitcoins, valued at about $6 billion at the current price of about $46,742. CEO Michael Saylor has said on several occasions that the company plans to hold the bitcoin long term and has no plans to sell it.

  • The bitcoin acquired across the 49-day period averages to 85 a day, up from the 20 it acquired a day between Dec. 30. and Jan. 31. In an earlier statement, the company indicated it hadn't bought any bitcoin in the first half of February.

  • MicroStrategy shares fell as much as 1% in early trading.

Read more: Bitcoin's Implied Volatility Suggests Recovery Set to Continue

Michael Bellusci contributed to this story.

UPDATE (April 5, 13:44 UTC): Adds commentary on Silvergate Bank loan in third bullet point, share performance in sixth.