{"id":229955,"date":"2022-04-05T15:45:18","date_gmt":"2022-04-05T14:45:18","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=229955"},"modified":"2022-04-05T15:54:22","modified_gmt":"2022-04-05T14:54:22","slug":"bitcoin-jumps-above-47k-after-microstrategy-buys-4167-btc","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-jumps-above-47k-after-microstrategy-buys-4167-btc\/","title":{"rendered":"Bitcoin briefly jumps above $47K after MicroStrategy buys 4,167 BTC"},"content":{"rendered":"<p>MicroStrategy\u2019s spree of adding bitcoin to its balance sheet continues without rest. Announced in a <a href=\"https:\/\/twitter.com\/saylor\/status\/1511315882886246409\">tweet<\/a> by the company CEO Michael Saylor, the IT-services company bought another 4,167 bitcoin (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>).<\/p>\n<p>As <a href=\"https:\/\/cryptoslate.com\/microstrategy-borrows-an-additional-205-million-to-buy-bitcoin-what-could-go-wrong\/\">reported<\/a> by CryptoSlate on March 30, the purchase was expected after MicroStrategy announced the company had borrowed $205 million to buy more bitcoin.<\/p>\n<p>Aside from Saylor\u2019s tweet, the company also, as required, <a href=\"https:\/\/www.microstrategy.com\/en\/investor-relations\/financial-documents\/microstrategy-acquires-additional-4167-bitcoins_4-5-2022\">filed<\/a> a Form 8-K with the U.S. Securities and Exchange Commission, SEC.<\/p>\n<h2>MicroStrategy\u2019s 129,218 bitcoin hoard<\/h2>\n<p>MicroStrategy announced securing a loan with Silvergate Bank. Under the agreement, $205 million was issued, with bitcoin held by the subsidiary firm MacroStrategy (note: macro, not micro) collateralizing the deal. The press release also mentioned the payment of costs related to the loan and \u201cgeneral corporate purposes.\u201d<\/p>\n<p>As per Saylor\u2019s tweet, the company did not use the entire amount of the loan to buy bitcoin as MacroStrategy roughly $190 million at an average price of $45,714 per BTC.<\/p>\n<p><a href=\"https:\/\/cryptoslate.com\/companies\/microstrategy\/\">MicroStrategy<\/a> first bought bitcoin in August 2020 and this latest purchase strengthens its position as the largest known corporate holder of bitcoin, which it has achieved through a mix of self-funding and borrowing. MicroStrategy\u2019s bitcoin holdings now total 129,218 bitcoin acquired for $3.97 billion at an average price of $30,700 per bitcoin.<\/p>\n<p>Self-funding bitcoin buys from company reserves is one thing. But eyebrows were raised in July 2021 when the firm announced it was going through with a complex corporate bond to acquire more. This saw MicroStrategy borrow $400 million to buy Bitcoin.<\/p>\n<h2>Bitcoin bounced over $47,000 on the news<\/h2>\n<p>On the news of MacroStrategy\u2019s purchase, the market price of bitcoin briefly bounced above $47,000 and is at press time trading around $45,800. The price of bitcoin has been fairly level the past week, after a dip down to $44,350 on April 1st, holding itself in a corridor between $46,000 and $ 47,000.<\/p>\n<p>According to crypto analysts IntoTheBlock, on-chain <a href=\"https:\/\/twitter.com\/intotheblock\/status\/1511317052031737863\">data<\/a> shows that retail customers are accumulating bitcoin. Addresses holding 0.1-1 BTC have increased their balance by 1.47% in just 30 days. Moreover, since the January lows, all the clusters of addresses holding below 1 BTC have increased their holdings up to 5.51%.<\/p>\n<p>Since the all-time high at $60,044 set on November 10th, 2021, bitcoin is down 32.3%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy\u2019s spree of adding bitcoin to its balance sheet continues without rest. Announced in a tweet by the company CEO Michael Saylor, the IT-services company bought another 4,167 bitcoin (BTC). As reported by CryptoSlate on March 30, the purchase was expected after MicroStrategy announced the company had borrowed $205 million to buy more bitcoin. Aside [&hellip;]<\/p>\n","protected":false},"author":962,"featured_media":229956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,60205,35372,15323],"tags":[76769,76418],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin briefly jumps above $47K after MicroStrategy buys 4,167 BTC<\/title>\n<meta name=\"description\" content=\"The market price of bitcoin jumped above $47,000 on the news that Michael Saylor\u2019s MicroStrategy buys another round of bitcoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bitcoin-jumps-above-47k-after-microstrategy-buys-4167-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin briefly jumps above $47K after MicroStrategy buys 4,167 BTC\" \/>\n<meta property=\"og:description\" content=\"The market price of bitcoin jumped above $47,000 on the news that Michael Saylor\u2019s MicroStrategy buys another round of bitcoin.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/bitcoin-jumps-above-47k-after-microstrategy-buys-4167-btc\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-05T14:45:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-05T14:54:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/04\/microstrategy-bitcoin-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laszlo Dobos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laszlo Dobos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-jumps-above-47k-after-microstrategy-buys-4167-btc\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-jumps-above-47k-after-microstrategy-buys-4167-btc\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/#person\",\"name\":\"Laszlo Dobos\",\"url\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/lars-dobos-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/lars-dobos-author-300x300.jpg\",\"caption\":\"Laszlo Dobos\"},\"jobTitle\":\"Reporter\",\"description\":\"Educated in computer engineering, Laszlo began developing an interest for crypto and blockchain technology back in 2013. 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