MicroStrategy added an additional 6,455 bitcoins to its corporate treasury over the past month.
A Form 8-K filing, required by the U.S. Securities and Exchange Commission (SEC), says Michael Saylor’s business intelligence firm is now holder of approximately 138,955 bitcoins.
With this latest Bitcoin purchase, MicroStrategy has invested a total of $4.140 million in acquiring the cryptocurrencywhich is part of a long-term investment and reserve strategy implemented by the company since August 2020.
The average price of all bitcoins held by MicroStrategy is $29,817 per unit, which is 9% lower than the current cryptocurrency market price.
Bitcoin-backed Silvergate bank loan settled
MicroStrategy’s presentation also reveals that the company settled its debts to Silvergate Bankone of three US banks that declared bankruptcy in the middle of this month as a result of the monetary policy implemented in the United States.
MicroStrategy applied for a $205 million bitcoin-backed loan from Silvergate Bank in March last year.
This loan, which matured in two years, in March 2025, was repaid early by the company. MicroStrategy made a $161 million payment to Silvergate Bank earlier this month, repaying all of its debts to the failing bank.
On Twitter, MicroStrategy CEO Michael Saylor noted that the Silvergate Bank loan was repaid at a 22% discount.
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Bitcoin, a long-term safe haven for MicroStrategy
Bitcoin is MicroStrategy’s main reserve asset. In 2020, the company made the decision to convert its cash reserves into Bitcoin, confirming its belief in the potential for growth and appreciation of the cryptocurrency, both as an investment asset and as a as a long-term store of value asset.
At the time, the economic intelligence firm, which provides services to major clients such as the US military, McDonalds and Universal Studios, highlighted the distinctive qualities of Bitcoin that make it a fair value reserve.
Its current president, Michael Saylor, also pointed out the lure of bitcoinnot only as an investment asset and store of value, but also as a technology that has tremendous impact and influence in almost every industry.
There decentralizationthere programmabilitythe ability to provide access to financial services to unbanked people, the transparency And security of the network and its deflationary qualities, which make it inflation resistantare some of the Bitcoin features most highlighted by Saylor in recent years.
The company also plans to offer Bitcoin in 401(k) plans in partnership with Fidelity Investments and is working on developing business applications based on Lightning Network, Bitcoin’s leading scaling solution.