“MicroStrategy buys Bitcoin again”

Mr. Michael S. Saylor, CEO of MicroStrategy, has repeatedly expressed his support for Bitcoin. He is known as a Bitcoin maximalist who sees Bitcoin as a solution for storing value and a way to combat inflation and economic downturns. Accordingly, MicroStrategy has implemented policies to support Bitcoin.

But a few month ago, news of this company’s bankruptcy due to the heavy drop in Bitcoin was heard. As Bitcoin fell sharply, many companies went bankrupt and their capital was destroyed, but MicroStrategy assured its customers that it has the necessary liquidity to prevent this from happening. Recently, the company repaid a $205 million loan from Silvergate at a 22% discount for a total of $161 million and retrieved about 34,619 Bitcoins held as collateral.

Also today, a news was released that MicroStrategy has purchased 6,455 Bitcoins at a price of $23.2K per Bitcoin, amounting to $150 million, which is 16.89% lower than the current market price of Bitcoin.

The company now holds 138,955 Bitcoins ($4.14 billion) on its balance sheet, with an average Bitcoin price of around $29.8K, which is 6.64% higher than the company’s current market value.

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