<a href="https://www.bloomberg.com/quote/MSTR:US">MicroStrategy Inc.</a>&nbsp;co-founder and Executive Chairman Michael Saylor’s more-than $4 billion bet on Bitcoin is on the verge of turning profitable once again after the first quarter surge in the value of the original cryptocurrency.&nbsp;

MicroStrategy, a business intelligence company has continued to maintain its strong belief in Bitcoin (BTC), the leading cryptocurrency.

Yesterday, Microstrategy announced they acquired an additional 6,455 Bitcoin. While repaying its $205 million SIlvergate loan at a 22% discount. Since its first acquisition of Bitcoin in 2020, the stock is up 77% and outperforms all major asset classes. MicroStrategy’s equity market cap is now over $3 billion, compared to $1.2 billion when they moved to a Bitcoin standard.

MicroStrategy has purchased an additional 6,555 bitcoins for approximately $150 million. This latest purchase brings the total amount of bitcoin held by the publicly-traded company to over 120,000, making it one of the largest holders of the cryptocurrency in the world.

MicroStrategy has increased its total Bitcoins holdings to 138,955 BTC, purchased for $4.1 billion at an average of $29,817 per coin.

MicroStrategy co-founder and former CEO Michael Saylor took to Twitter on March 27 to announce that the firm has repaid its $205 million loan to Silvergate.

According to its latest 8-K filing with the SEC, MicroStrategy has acquired 6,455 BTC for $150M with an average price of $23,238 per BTC between 16th February and March 23rd 2023.

The Superior Court of the District of Columbia has dismissed a civil complaint against American business intelligence company MicroStrategy, which alleged that the firm helped its co-founder Michael Saylor evade income tax payments.

MicroStrategy has denied any meaningful exposure to Silvergate as crypto firms who banked with the crypto bank are rushing for the exits amid concerns about its financial condition.&nbsp;

Business intelligence firm MicroStrategy and stablecoin issuer Tether have become the latest two firms to publicly deny any meaningful exposure to Silvergate Bank. The news comes after Silvergate announced on March 1 that it would postpone filing its annual 10-K financial report, which has many fearing the cryptocurrency bank may be on the brink of a bankruptcy filing. This led MicroStrategy — which holds over 130,000 Bitcoin— to confirm that its BTC collateral is not custodied with Silvergate. (Cointelegraph)