MicroStrategy Buys More Bitcoin Below Average Cost Price

Monday’s SEC filing shows the company purchased 6,455 BTC over the past several weeks

article-image

JOCA_PH/Shutterstock.com modified by Blockworks

share

MicroStrategy is on a spending spree. The business intelligence company shelled out millions in the past few weeks to scoop up an additional 6,455 BTC and pay off its loan from collapsed Silvergate Bank early, according to a regulatory filing Monday. 

MicroStrategy has paid off its $205 million loan from Silvergate, which it took out in March 2022, making its final payment of $161 million earlier this month. The loan, set to mature in March 2025, was collateralized with around $820 million in bitcoin, regulatory filings show. 

The news comes weeks after MicroStrategy told investors via Twitter that Silvergates’ “insolvency or bankruptcy” would not “accelerate” the loan. 

MicroStrategy said in 2022 it would use the $205 million to purchase bitcoins and/or for “general corporate purposes.” 

Monday’s SEC filing also shows the company purchased 6,455 BTC over the past several weeks “for approximately $150 million in cash, at an average price of approximately $23,238 per bitcoin, inclusive of fees and expenses.” Microstrategy now holds more than 130,000 BTC, totalling around $4.1 billion, the regulatory form adds. That makes MicroStrategy’s the largest corporate treasury of any public company, per BitcoinTreasuries.

MicroStrategy shares were relatively unchanged in pre-market trading following the regulatory filing Monday, losing less than 0.1%. The company’s stock has had an explosive first quarter, gaining nearly 80% since the start of 2023. 

Last week, however, shares dipped about 9% as concerns about the company’s ties to Silvergate grew. Analysts surveyed by MarketBeat still give MSTR a hold rating, with a price target of $294. MSTR closed Friday’s trading session at $256.67. 

Reports of insider buying – independent director Carl Rickertsen allegedly bought $608,000 in shares over the past 12 months –  may have fueled the recent rally in the past few months and drive future price moves.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).png

Research

Aave’s revenues have doubled from April lows and are fast approaching all-time highs. With 35% of borrow interest coming from ETH and 55% from stablecoins, Aave is emerging as a powerful proxy as an ETH and stablecoin beta. As looping strategies accelerate growth and Horizon positions the protocol to ride the RWA wave, Aave is shaping up as one of DeFi’s most compelling multi-narrative plays.

article-image

Lehman becomes Pantera’s fourth junior partner

article-image

The DAT trend may differ from prior implosions

article-image

The exchange has filed a proposal to let investors settle equities on-chain with full shareholder rights, according to reports

by Blockworks /
article-image

If AI is a replacement for humans, wouldn’t companies fire the expensive ones first?

article-image

Lawmakers are expected to consider the new version at the end of September

article-image

Bitwise investment strategist expects end to “the wild-west phase of public companies …turning into crypto vehicles”