• MicroStrategy bought 6,455 bitcoins for about $150 million in the last five weeks, an SEC filing showed.

• That brings the firm's total bitcoin holdings to 138,955 tokens, or about $3.88 billion.

• MicroStrategy also paid off the remaining principal on a $205 million loan from the failed Silvergate Bank.

Michael Saylor's MicroStrategy bought 6,455 bitcoins over the last five weeks, according to a Friday SEC filing.

The purchases were made at an average price of about $23,238 per token, and totaled roughly $150 million.

Crypto investments are not new for MicroStrategy, and Saylor frequently touts bitcoin from his Twitter account.

The recent acquisitions bring the software company's holdings up to 138,955 bitcoins, per CoinDesk, bought at an average price of $29,817 each.

All together, those holdings are worth about $3.88 billion, at the current bitcoin price of about $27,900.

MicroStrategy's latest crypto buying spree comes as bitcoin has rallied to start the year. After a dismal 2022, the token is up about 62% year-to-date.

Last week, the token hit a nine-month high and neared $30,000 as Credit Suisse's takeover by UBS failed to ease fears about the global banking system.

Cryptocurrencies across the board are notching gains. Ethereum is up about 42% year-to-date, and Solana is up about 51% in 2023.

Meanwhile, per the SEC filing, MicroStrategy also paid off the remaining principal on a $205 million loan from failed, crypto-friendly bank Silvergate, which shut down its operations earlier this month. The total MicroStrategy paid was $161 million.

As part of the satisfaction of the loan, 34,619 bitcoins that were held as collateral were returned to Saylor's firm, the filing said.

"MicroStrategy repaid its $205M Silvergate loan at a 22% discount," Saylor tweeted on Monday.

Read the original article on Business Insider