Business intelligence firm showed that it is still standing strong in the bad economy situation with its Bitcoin holding plans and better financial position.
MicroStrategy is a business intelligence firm. This company develops software to analyze internal and external data to make business decisions and develop mobile apps. Initially, this company was founded in 1989 by Michael J. Saylor, Sanju Bansal, and Thomas Spahr. Under the leadership of Saylor, Microstrategy started to purchase Bitcoin in 2020. At present time, this company holds 138,955 Bitcoin.
In the last 5 weeks, Microstrategy purchased 6,455 Bitcoin at an average price of $23,238. So now the company holds 138,955 BTC at a purchase cost of $29,817. So we can say that the company is in loss by 7-8%.
MicroStrategy confirmed that the company repaid its $205 million loan, which was taken by the company from Silvergate Bank, at a discount of 22%. To repay the bank loan, the company diluted $339.4 million worth of MSTR shares this year.
As we know that Microstrategy started to purchase Bitcoin under the leadership of Saylor but in Q3 2022 he stepped down from the CEO role to become chairman and also boost the company’s efforts to generate passive income with Bitcoin holdings.
Saylor keeps promoting Bitcoin through his Twitter account and he never misses any chance to talk & appreciate the role of Bitcoin.
Recently a popular environment activist showcased a giant human skull with the Bitcoin logo, to address the high energy consumption by the Bitcoin network & carbon footprint issues.
Saylor shared that giant art and said that he will keep supporting Bitcoin because everything is good for Bitcoin.
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MicroStrategy adds 6,455 Bitcoin & Pays off Silvergate Loan