Cryptocurrencies
MicroStrategy Funds Latest Purchase With Bitcoin-Backed Loan
- Software maker bought $190.5 million more in Bitcoin
- Value of company’s total purchases is around $6 billion
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MicroStrategy Inc. used a loan against its Bitcoin holdings for the first time to purchase $190.5 million more of the cryptocurrency.
The software maker controlled by Bitcoin advocate and CEO Michael Saylor now owns about 129,218 of the digital tokens valued at around $6 billion. The Tysons Corner, Virgina-based company acquired 4,167 Bitcoins between Feb. 15 and April 4 during its most recent buying spree, according to a regulatory filing. Bitcoin fell less than 1% to $46,004.