MicroStrategy Purchases 850 Additional Bitcoins for $37 Million
MicroStrategy, a leading business intelligence and software company, continues its unwavering commitment to Bitcoin by purchasing an additional 850 BTC for a total cost of $37.2 million, Founder and Chairman Michael Saylor announced today.
“We acquired an additional 31,755 Bitcoins since the end of the third quarter, marking the largest quarterly increase in Bitcoin holdings in the last three years and the 13th consecutive quarter we have increased our balance sheet,” said Andrew Kang, MicroStrategy’s Chief Financial Officer. “We added Bitcoin to our balance sheet,” he said. “We benefited from the significant rise in the price of Bitcoin in the fourth quarter and continued to leverage our strategic capital markets activities and cash reserves to accumulate more Bitcoin and create incremental value for our shareholders. This is our unique “With our Bitcoin strategy and solid track record, we currently hold 190,000 Bitcoins with a total purchase price of $31,224.”
The company first entered the Bitcoin market in August 2020, making a significant initial investment of $250 million in BTC. Since then, they have established a treasury reserve strategy that has steadily increased their Bitcoin holdings, securing over 190,000 Bitcoins worth over $8.2 billion at the time of this writing.
“2023 is a special year for MicroStrategy as we continue to innovate, including strategically raising capital to significantly increase our Bitcoin holdings and developing and launching MicroStrategy AI, the first AI-based BI tool to market,” said MicroStrategy President Phong Le. “It was,” he said. Chief Executive Officer. “We achieved double-digit subscription services revenue growth in the fourth quarter and full year, demonstrating our continued commitment to transforming our business to the cloud. We believe that the combination of our operating structure, Bitcoin strategy, and focus on technology innovation will enable us to achieve the next “We believe it offers a unique opportunity to create value for our shareholders.”
With the fourth Bitcoin halving rapidly approaching, MicroStrategy continues its aggressive Bitcoin investment strategy with no signs of slowing down.
