Quiet for a Long Time, MicroStrategy Appears to Shock the Market With the Purchase of BTC!
The world's largest corporate holder of bitcoin has resumed its accumulation after three months of relative silence.Additionally, the business intelligence giant founder Michael Saylor has reportedly repaid his Bitcoin-secured loan to Silvegate at a substantial discount.The company's former CEO made the announcement on Twitter by announcing his firm's latest bitcoin purchase, which took place on March 23. MicroStrategy bought 6,455 BTC at an average price of $23,238, and the total purchase was worth about $150 million.With this, the firm's total holdings rose to 138,955 BTC, earning about $4.14 billion at an average price of $29,817 per BTC. Bitcoin's recent surge in prices, the company's unrealized losses have shrunk significantly, as it was valued at over $1 billion until recently.In addition to the firm's first BTC purchase of the year, MicroStrategy repaid a BTC-backed loan to Silvergate Bank. The two parties partnered last year for a $205 million loan that the software company used to raise more BTC.Based on Saylor's Tweet, MicroStrategy is paying back the loan at a 22% discount.MicroStrategy is paying back the loan at a 22% discount.On the other hand, investors seemed relieved as global markets showed some signs of recovery after the bank collapse. The crypto market posted a massive recovery over the past week after falling below the crucial $1 trillion mark.However, reports suggest there are risks ahead as fears the era of liquidity may come to an end.
The world's largest corporate holder of bitcoin has resumed its accumulation after three months of relative silence.
Additionally, the business intelligence giant founder Michael Saylor has reportedly repaid his Bitcoin-secured loan to Silvegate at a substantial discount.
The company's former CEO made the announcement on Twitter by announcing his firm's latest bitcoin purchase, which took place on March 23. MicroStrategy bought 6,455 BTC at an average price of $23,238, and the total purchase was worth about $150 million.
With this, the firm's total holdings rose to 138,955 BTC, earning about $4.14 billion at an average price of $29,817 per BTC. Bitcoin's recent surge in prices, the company's unrealized losses have shrunk significantly, as it was valued at over $1 billion until recently.
In addition to the firm's first BTC purchase of the year, MicroStrategy repaid a BTC-backed loan to Silvergate Bank. The two parties partnered last year for a $205 million loan that the software company used to raise more BTC.
Based on Saylor's Tweet, MicroStrategy is paying back the loan at a 22% discount.MicroStrategy is paying back the loan at a 22% discount.
On the other hand, investors seemed relieved as global markets showed some signs of recovery after the bank collapse. The crypto market posted a massive recovery over the past week after falling below the crucial $1 trillion mark.
However, reports suggest there are risks ahead as fears the era of liquidity may come to an end.
