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

Unlocked by Template (10).png

Research

Innovations on Aptos’ technical design through Raptr, Shardines, and Zaptos approach near-optimal latency and throughput by unlocking 100% utilization of network resources, with the capacity to settle 260k transactions per second with latencies less than 800ms. The original Move language was revamped with the launch of Move 2, supporting more expressivity in smart contract logic and a scalable ability to interact with high volume datasets. The ecosystem has benefitted from strong asset inflows, now hosting over $1.3B in stablecoins, $450M in bridged BTC, and $530M in RWAs. Activity in the Aptos ecosystem has grown notably over the past year, with monthly application revenue reaching ~$835k and monthly DEX volumes growing to over $5B, both at new all time highs.

article-image

The fund group has submitted proposals in recent months for other funds that would hold litecoin, solana, XRP, HBAR, Sui and others

article-image

Momentum’s back — BTC leads, risk assets follow

article-image

Ondo Finance’s acquisition of blockchain development company Strangelove follows its buy of Oasis Pro

article-image

Cryptocurrency and stock traders alike had a lot to unpack Wednesday

article-image

The government says Storm was a money-hungry aid to criminals; the defense says it’s not his fault that people used his code for illicit activities.

article-image

EigenLayer, Lido and Taiko are buying verifiable compute