- MicroStrategy CEO Michael Saylor Announced that the company had returned the $205million loan at 22% discount
- The The firm also bought 6,455 Bitcoins worth $150 Million.
- Saylor’s business currently holds more than 138,900 bitcoins.
MicroStrategy, the world’s largest corporate Bitcoin holderIt recently added more BTC, according to a recent statement.
The BI company headed by Bitcoin Bull Michael SaylorThe announcement was also made on Monday It had repaid its debt to the crypto-friendly bank Silvergate Bank.
MicroStrategy Repaid $250 million and Purchased 6,455 BTC
Saylor, referencing his company’s recent SEC filing, said that MicroStrategy has now fully paid back the $205 million loan it borrowed from Silvergate in March 2023. The The firm claimed to have settled the principal loan amount with a 22% discount. Friday’s payoff seeing MicroStrategy clear the collateralized loan at $160 million.
As As a result, the company was able to recover its 34,619 BTC, which had been pledged as collateral.
MicroStrategy also confirmed that it had acquired 6,455 Bitcoins for a total value of $150 million at an average price of $23,238 per token. Saylor’s bitcoin strategy now includes a total Bitcoin haul of 138,955 BTC since the company’s first move in 2020.
So The total BTC holdings were obtained at a cost $4.1 billion. Each bitcoin was bought at an average price of $29 817.
MicroStrategy repays its $205M Silvergate loan at a 22% discount As of 3/23/23 $MSTR An additional 6,455 bitcoins were acquired for $150M at an average price of $232,238 #bitcoin & held ~138,955 BTC acquired for ~$4.14B at an average of ~$29,817 per bitcoin. https://t.co/ALp9VLkTpt
— Michael Saylor⚡️ (@saylor) March 27, 2023
Bitcoin MicroStrategy shares closed at $27,809 on Tuesday. Friday At 9.10 AM ET, they were 0.07% lower than the US market opening. Monday.