MicroStrategy Buys $191M Worth of Bitcoin
MicroStrategy (MSTR), a bitcoin-accumulating business-intelligence software company, said it bought another 4,167 BTC for around $190.5 million.The purchases took place between Feb. 15 and Monday, MicroStrategy said in a statement Tuesday.
The Tysons Corner, Va.-based company paid an average price of $45,714 per bitcoin.The cash used to purchase the bitcoin likely stems from proceeds of MicroStrategy's recent $205 million loan from Silvergate Bank, Mark Palmer, an equity research analyst at BTIG, told clients in a note Tuesday.
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