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MicroStrategy has acquired 105,084 bitcoin ($489 million), purchased from the proceeds of the sale of $500 million in senior debt notes last week.

The US intelligence firm added 13,000 Bitcoin to its treasury from $489 million raised from corporate bonds sale to investors, averaging a buy in price of $37,617.

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The company’s most recent purchase is technically under water, which has been attributed to a reshuffling of Chinese miners due to recent crackdown by the regime.

Holding 105,000 BTC worth about $3.4 billion, MicroStrategy is the world’s biggest Bitcoin holder among publicly listed companies.  In aggregate, MSTR’s  purchase total at $26,080.

The MSTR stock can be considered a pseudo-Bitcoin ETF, with over 60% of its BTC purchases coming from the $2.1 trillion raised from stock convertible and debt notes. MSTR’s share price is effectively a proxy for Bitcoin’s performance.

Last week, the firm also announced a $1 billion stock sale to use the cash for its operations and BTC purchases, on top of the $500 million debt notes.

While potentially being the greatest Bitcoin ‘chad’ that ever lived, MicroStrategy’s Michael Saylor has painted a massive bullseye on his head with the company’s average buy-in coming in at $26,080. On the upside, the debt will reach its settlement phase years from now.

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