The largest corporate bitcoin holder in the world has resumed buying bitcoin after a three-month break.
Moreover, the business intelligence company founded by Michael Saylor has repaid its debt to Silvegate with Bitcoin as collateral at a sizable discount.
Moreover, the business intelligence company founded by Michael Saylor has repaid its debt to Silvegate with Bitcoin as collateral at a sizable discount.
On March 27, the former company CEO announced the most recent bitcoin transaction from his business, which was finished by March 23. At an average price of $23,238 per bitcoin, MicroStrategy purchased 6,455 BTC for over $150 million.
With it, the company added 138,955 BTC to its total holdings, which were bought for almost $4.14 billion, or an average price of $29,817 per BTC.
The company’s unrealized loss has significantly decreased as a result of bitcoin’s recent increase in price; up until recently, it was worth over $1 billion.
Addition to making its first annual Bitcoin purchase, MicroStrategy paid back the loan it had made to the defunct Silvergate Bank with BTC as collateral.
Last year, the parties shook hands over a $205 million loan, which the software firm used to buy more Bitcoin.
Saylor tweeted that MicroStrategy paid back the debt at a 22% discount.