MicroStrategy bought $1.25B of Bitcoin in Q4, holdings now worth $8 billion

Change intelligence company MicroStrategy launched its Bitcoin acquisitions for the fourth quarter of 2023 in a observation on Feb. 6.

MicroStrategy President and CEO Phong Le said:

“2023 changed into as soon as an unheard of year for MicroStrategy as we strategically raised capital to a great deal expand our bitcoin holdings … We assume that the combination of our operating construction, bitcoin scheme, and focal point on expertise innovation provides a irregular opportunity for stamp introduction for our shareholders.”

The corporate said it had obtained 31,755 BTC since the tip of Q3 2024 for $1.25 billion, or $39,411 per bitcoin.

MicroStrategy now holds 190,000 BTC at a complete price of $5.93 billion, or $31,224 per BTC, as of Feb. 5, 2024. Essentially the most modern market stamp of those Bitcoin holdings, on the different hand, is a great deal elevated at approximately $8 billion.

MicroStrategy CFO Andrew Kang effectively-known that the most modern additions marked the company’s most intriguing quarterly Bitcoin holdings expand in three years and its thirteenth consecutive quarter of Bitcoin purchases. Kang added that, other than the exercise of its strategic capital markets activities and cash available to operate BTC at present, the company benefited from a upward thrust in Bitcoin costs one day of the last quarter of 2023.

Michael Saylor, founder and chairman of MicroStrategy, added that the company purchased 850 BTC in January at a stamp of $37.2 million.

As for MicroStrategy’s non-Bitcoin efficiency, complete revenues for Q4 were $124.5 million, down 6% year-over-year. Subscription services revenues were $21.5 million, up 23% year-over-year. MSTR stock changed into as soon as up 1.51% on Feb. 6.

MicroStrategy is the most intriguing company Bitcoin investor

In its announcement right this moment time, MicroStrategy described itself as the most intriguing company holder of Bitcoin. Facts from CoinGecko suggests that the following most intriguing Bitcoin treasury belongs to Galaxy Digital, which holds $754 million of BTC — approximately ten events no longer up to MicroStrategy’s most modern holdings.

Other company treasuries with foremost Bitcoin consist of those at Marathon Digital and Hut 8, Elon Musk’s Tesla, and Coinbase.

In all, 28 corporations retain $11 billion worth of Bitcoin, or about 1.35% of the total Bitcoin market cap, in step with CoinGecko recordsdata.