MicroStrategy, the US-based business intelligence firm has made a fresh purchase of 4,167 Bitcoins worth $190.5 million (roughly Rs. 1,435 crore), this time after acquiring a $205 million (roughly Rs. 1,545 crore) Bitcoin-backed loan from Silvergate bank. While securing the loan at the end of March through Silvergate Bank’s SEN Leverage Program, MicroStrategy had made it known that a major portion of the loan would be directed towards the purchase of more Bitcoin, while the rest of it would be levelled towards improving company operations.
The acquisition was made known by the company’s Chief Executive Officer Michael Saylor, who took to Twitter to share the news and said that the purchase is valued at approximately $190.5 million (roughly Rs. 1,435 crore) at an average price of approximately $45,714 (roughly Rs. 34.5 lakh) per BTC.
MicroStrategy has been making strategic acquisitions in Bitcoin since August 2020, and following the most recent acquisition, the company now has approximately BTC 129,218 acquired for about $3.97 billion (roughly Rs. 29,890 crore) at an average price of approximately $30,700 (roughly Rs. 23 lakh) per Bitcoin. Today, MicroStrategy stands as the most dogged corporate investor backing the digital currency.