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MicroStrategy Buys Another $190 Million in Bitcoin at $45,714 Each

MicroStrategy CEO Michael Saylor has announced another company purchase of the premier cryptocurrency on Tuesday.

  • According to Saylor’s Twitter, MicroStrategy bought exactly 4,167 Bitcoin at $45,714 each. The total purchase cost $190.5 million.
  • This brings the company’s total Bitcoin holdings to 129,218 Bitcoin. Altogether, the company paid an average of $30,700 per coin.
  • That means MicroStrategy owns $5.84 billion in Bitcoin at current prices. On the whole, his Bitcoin investment is up by about $1.9 billion right now.
  • The last time MicroStrategy bought Bitcoin was back in February. With the new purchase, his company has gained its lead back over the third-largest Bitcoin address. The mystery whale has been selling off hard in the last two weeks.
  • The purchase was expected, given that MicroStrategy just took out a $205M loan with Silvergate bank to buy more Bitcoin. Had the market been prepared, he suggested that he would’ve tried a Bitcoin-backed bond
  • Saylor has made clear that MicroStrategy never plans to sell its Bitcoin, considering it part of the company’s “offensive strategy”.
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Terra has also entered the Bitcoin market as a major HODLer whale. It plans to back its UST stablecoin using $10 billion in Bitcoin reserves, which it’s still purchasing.

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