MicroStrategy announced the purchase of another 4,167 Bitcoin (BTC) for its reserves

MicroStrategy announced the purchase of another 4,167 Bitcoin (BTC) for its reserves

MicroStrategy, one of the largest Bitcoin acquirers, announced that it has purchased an additional 4,167 BTC to its reserves.

The purchases occurred between February 15 and April 4. The announcement was made public through a  statement  issued by the Securities Market Commission.

Nothing can stop MicroStrategy’s BTC accumulation

MicroStrategy, through your recent purchases, adds 4167 BTC to your holdings. The company purchased the BTC for $190.5 million in cash at an average price of approximately $45,714 per Bitcoin . The purchase cost includes all fees and other expenses.

MicroStrategy  bought  660 Bitcoins in February. To the surprise of the Bitcoin holder, MacroStrategy, the company’s subsidiary, borrowed $205 million from the Silvergate bank.

The company took out a loan using its bitcoin holdings worth approximately $820.0 million placed in an escrow account. The company used the loan to buy more bitcoins.

MicroStrategy and its subsidiaries held approximately 129,218 bitcoins as of April 4, 2022. It purchased BTC with an estimated value of $3.97 billion and an average purchase price of approximately $30,700 per bitcoin.

According to the release, MacroStrategy owns approximately 115,110 of these bitcoins. But even through the ups and downs and a non-profit situation, Saylor appears to be quite stern in his bitcoin decision. The company is looking at the long term and has no plans to sell its BTC anytime soon.

Where is BTC headed?

At press time, BTC is trading at  $47,090  with a 24-hour trading volume of $31,031,884,808. Despite the recent crypto winter taking a toll on the BTC price , large institutional investors stuck to their HODLing strategy.

With institutions and big players amassing bitcoin, there is no doubt that everyone will be fighting for a piece of BTC five years from now. When everyone is looking to capture BTC, one can only imagine how much the price would skyrocket.

Samuel Edwards
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