American business intelligence company MicroStrategy has acquired an additional 4,167 BTC at an average price of $45,714 per coin. With the latest purchase, the Virginia-based firm now owns 129,218 BTC, by far the largest Bitcoin stash out of any publicly-traded company.
Key takeaways:
- MacroStrategy, a subsidiary of MicroStrategy, recently announced it borrowed $205 million through a Bitcoin-collateralized loan from Silvergate Bank to expand its exposure to the world’s largest crypto.
- According to an SEC filing, MicroStrategy holds an aggregate of roughly 129,218 bitcoins, acquired for approximately $3.97 billion, which means the company spent on average $30,700 per BTC.
- MicroStrategy made its first BTC purchase in August 2020. Given Bitcoin’s current market rate of roughly $45,880, the company is currently up over 51% on its cryptocurrency investment to date.
- MicroStrategy Founder and CEO Michael Saylor thinks that weakening global currencies and general asset inflation will spark the “flight of capital from cash, debt, & value stocks to scarce property like bitcoin.”
- With the latest acquisition, MicroStrategy now holds almost three times as many BTC as electric car manufacturer Tesla, which is, according to data from Bitcoin Treasuries, the second-largest owner of BTC among publicly traded companies.
