Michael Saylor's MicroStrategy snaps up $190 million of bitcoin, lifting its stockpile to $6 billion
- MicroStrategy bought another 4,167 bitcoin for roughly $190.5 million, bringing its total to about $6 billion.
- The purchases took place between February 15 and April 4 for an average price of $45,714 per bitcoin.
MicroStrategy recently bought 4,167 more bitcoin for about $190.5 million bringing its stockpile to 129,218 tokens worth more than $6 billion.
The purchases took place between February 15 and April 4, according to a company statement Tuesday, for an average price of $45,714 per bitcoin. The current price is just below $46,000.
The latest acquisitions come amid $205 million loan that MicroStrategy got last month from crypto lender Silvergate Bank to buy more bitcoin. The three-year term loan is collateralized by about $820 million worth of bitcoin.
MicroStrategy CEO Michael Saylor has long been bullish on bitcoin and has no plans on selling. He recently called bitcoin the only scarcity in the world, beating out gold, real estate, and "everything else" that can be created.
He views bitcoin as "magical" because only 21 million tokens can ever be created, unlike other assets that can be created indefinitely.
MicroStrategy, an enterprise software developer, is among several companies adding bitcoin to their balance sheets.