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MicroStrategy’s subsidiary MacroStrategy announced the purchase of 4,167 bitcoins in a filing with the Securities and Exchanges Commission.
That follows a bitcoin collateralized loan of $205 million secured last Tuesday. The purchase of currently $195 million bitcoin, therefore, was made over the past seven days.
The company said they bought them for $190.5 million in cash at an average price of approximately $45,714 per bitcoin.
Bitcoin currently trades at nearly $47,000, but it went as low as $44,200 on Friday which may be when these coins were bought.
Do Kwon of Terra has also seemingly paused his bitcoin purchases for the past six days, just a day after MicroStrategy announced the loan.
They still have close to a billion tokenized dollars on their public address, so purchases may return now that MicroStrategy is done.
The company said they now hold 129,218 bitcoin, worth $6 billion, bought at an average price of $30,700 for $4 billion in total.
So they’ve made $2 billion in paper profits, making this one of the boldest bet that so far has paid off.