Key takeaways
- MicroStrategy has acquired 1,045 BTC within the final week.
- The corporate now has 140,000 BTC.
- It lately repaid its $205 million mortgage to Silvergate Financial institution at a 22% low cost.
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MicroStrategy Raises Its Bitcoin Stake Once more The corporate now has 140,000 BTC, price $3.9 billion at at the moment’s costs.
An extra 1,045 BTC
Michael Saylor continues so as to add to his Bitcoin guess.
Co-founder of MicroStrategy introduced Immediately on Twitter that the corporate purchased an extra 1,045 BTC for about $29 million at a median value of $28,016 per coin. MicroStrategy now has 140,000 BTC, which quantities to $3.9 billion on the time of writing. Saylor indicated in his tweet that MicroStrategy’s common acquisition value was $29,803 per bitcoin.
MicroStrategy introduced final week that it had repaid its $205 million mortgage to Silvergate Financial institution after the financial institution’s sudden demise. The mortgage was collateralized with the corporate’s 34,619 bitcoin holdings in addition to $5 million in money reserves held at Silvergate. As a result of the mortgage had a scheduled maturity date of March 2025, MicroStrategy was capable of attain an settlement with Silvergate to repay its dues early for simply $161 million, a 22% low cost.
On the identical day, MicroStrategy introduced that it had acquired an extra 6,455 BTC for about $150 million, with a median value of $23,238 per coin.
Sylar received down From his place as CEO of MicroStrategy in August 2022. He’s now the corporate’s government chairman, with a single-minded give attention to “Bitcoin acquisition technique and associated Bitcoin advocacy initiatives.” MicroStrategy President Fong Lay changed Saylor as CEO and took over the corporate’s day-to-day operations.
Saylor was too the accused Tax fraud by Washington DC Legal professional Normal Carl Racine in August 2022. The District of Columbia alleges that Saylor by no means paid earnings taxes regardless of residing within the District for greater than 10 years. MicroStrategy was additionally sued for “conspiracy in support [Saylor] Legally keep away from taxes on the lots of of hundreds of thousands of {dollars} he earned whereas residing in DC.” Saylor Misplaced bid Dismissal of claims in March 2023.
Disclosure: On the time of writing, the writer of this piece owned BTC, ETH and a number of other different crypto belongings.
