Advertisement
Singapore markets open in 7 hours 36 minutes
  • Straits Times Index

    3,293.13
    +20.41 (+0.62%)
     
  • S&P 500

    5,064.90
    -5.65 (-0.11%)
     
  • Dow

    38,418.83
    -84.86 (-0.22%)
     
  • Nasdaq

    15,704.42
    +7.78 (+0.05%)
     
  • Bitcoin USD

    64,854.32
    -1,855.38 (-2.78%)
     
  • CMC Crypto 200

    1,400.21
    -23.89 (-1.68%)
     
  • FTSE 100

    8,040.38
    -4.43 (-0.06%)
     
  • Gold

    2,342.10
    0.00 (0.00%)
     
  • Crude Oil

    82.65
    -0.71 (-0.85%)
     
  • 10-Yr Bond

    4.6540
    +0.0560 (+1.22%)
     
  • Nikkei

    38,460.08
    +907.92 (+2.42%)
     
  • Hang Seng

    17,201.27
    +372.34 (+2.21%)
     
  • FTSE Bursa Malaysia

    1,571.48
    +9.84 (+0.63%)
     
  • Jakarta Composite Index

    7,174.53
    +63.72 (+0.90%)
     
  • PSE Index

    6,572.75
    +65.95 (+1.01%)
     

MicroStrategy Pays Off Silvergate Loan, Buys More Bitcoin

Join the most important conversation in crypto and web3! Secure your seat today

MicroStrategy (MSTR), a software company that was co-founded by crypto advocate Michael Saylor and that holds a large amount of bitcoin (BTC), prepaid the remaining principal on its $205 million loan from failed, crypto-focused Silvergate Bank, according to a filing with the U.S. Securities and Exchange Commission on Friday.

In addition, MicroStrategy said it purchased another 6,455 bitcoins for roughly $150 million (about $23,238 per coin) over the past five weeks.

The loan payoff was made last Friday and totaled $161 million. As part of the satisfaction of the loan, 34,619 bitcoins held as collateral were returned to MicroStrategy's custody. The company took out the loan last March.

ADVERTISEMENT

The acquisition of another 6,455 bitcoins brings MicroStrategy's holdings up to 138,955 bitcoins purchased at an average price of $29,817 each and worth roughly $3.88 billion at the current bitcoin price of $27,900.

MicroStrategy also disclosed that it has raised $339.4 million this year through the sale of its shares and used the proceeds to pay back the loan from Silvergate.

Shares of MicroStrategy were up 0.9% premarket.