MicroStrategy Expands Bitcoin Holdings and Repays Loan from Silvergate

MicroStrategy has prepaid the remaining principal on its $205 million loan from Silvergate Bank and purchased another 6,455 bitcoins for roughly $150 million. 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 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.