Amid the recent crypto market recovery, MicroStrategy, a business intelligence software company known in the crypto community for its accumulation of Bitcoin (BTC), has announced its first Bitcoin purchase of the year. 

Alongside its latest acquisition of Bitcoin, the software company also announced in a form 8-K filing with the United States Securities and Exchange Commission (SEC) that it has repaid its outstanding loan with the troubled US-based bank, Silvergate.

Microstrategy Resumes BTC Buying Spree After Loan Settlement

Microstrategy started its accumulation of Bitcoin in 2020 and ever since the company has been known for large purchases of Bitcoin. 

Though the company went on a three-month hiatus since its significant recorded losses in 2022, it has now resumed its BTC purchases, according to its latest announcement. 

Related Reading: US Government Holds More Bitcoin Than MicroStrategy, Tesla Combined

MicroStrategy co-founder and former CEO Michael Saylor disclosed in a Twitter post on March 27 that the company has acquired an additional 6,455 BTC worth approximately $150 million at an average price of $23,238. 

This latest purchase has now expanded the company’s Bitcoin holdings by nearly 10%, bringing its total Bitcoin holdings to 138,955 BTC, bought for $4.1 billion at an average of $29,817 per coin. 

Notably, last year, amid the global market downtrend, Microstrategy initiated a $205 million loan with Silvergate which th

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Author: Samuel Edyme

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