Michael Saylor Led MicroStrategy Buys Whopping 6,455 Bitcoins (BTC)

• MicroStrategy acquired 6,455 Bitcoins between February 16, 2023, and March 23, 2023.
• The firm has around 138,955 BTC (almost $4.14 billion in value) as of March 23, 2023.

According to the most recent SEC filings by MicroStrategy, has increased its Bitcoin holdings. This accumulation, however, occurred when three cryptocurrency-friendly banks in the United States went bankrupt within a week of each other.

According to the reports, MicroStrategy acquired 6,455 Bitcoins between February 16, 2023, and March 23, 2023. The total amount was close to $150 million in cash. A median price of $23,238 per Bitcoin was paid.

MicroStrategy has around 138,955 Bitcoin (almost $4.14 billion in value) as of March 23, 2023, the report said. The company has acquired Bitcoins at an average price of $29,817 each.

In response to the news that MicroStrategy had acquired Bitcoin, Binance CEO Changpeng Zhao (CZ) tweeted that even if some individuals were panic-selling, there will always be someone willing to purchase.

Repaid Silvergate Bank Loan

According to the filing, on March 23, 2022, MicroStrategy and Silvergate Bank entered into a credit and Security Agreement. The now-defunct Silvergate Bank granted a $205 million term loan in accordance with the terms of the arrangement. As of March 24, 2023, there were approximately 34,619 Bitcoins held as collateral for the loan.

MicroStrategy, however, and Silvergate entered into a Prepayment agreement, with the company paying back the loan’s full balance of approximately $161 million.

The data show that the price of bitcoin was around $24,945 on February 16th. After that, BTC saw a price drop to around $19K. On March 10, 2023, however, Bitcoin’s price began to skyrocket. The price of bitcoin reached roughly $28,631 on March 23, 2023.