Enterprise intelligence agency MicroStrategy introduced its Bitcoin acquisitions for the fourth quarter of 2023 in a press launch on Feb. 6.
MicroStrategy President and CEO Phong Le mentioned:
“2023 was a unprecedented yr for MicroStrategy as we strategically raised capital to considerably enhance our bitcoin holdings … We consider that the mixture of our working construction, bitcoin technique, and give attention to know-how innovation supplies a novel alternative for worth creation for our shareholders.”
The corporate mentioned it had acquired 31,755 BTC for the reason that finish of Q3 2024 for $1.25 billion, or $39,411 per bitcoin.
MicroStrategy now holds 190,000 BTC at a complete value of $5.93 billion, or $31,224 per BTC, as of Feb. 5, 2024. The present market worth of these Bitcoin holdings, nevertheless, is considerably greater at roughly $8 billion.
MicroStrategy CFO Andrew Kang famous that the most recent additions marked the agency’s largest quarterly Bitcoin holdings enhance in three years and its thirteenth consecutive quarter of Bitcoin purchases. Kang added that, other than utilizing its strategic capital markets actions and money readily available to acquire BTC straight, the corporate benefited from a rise in Bitcoin costs in the course of the ultimate quarter of 2023.
Michael Saylor, founder and chairman of MicroStrategy, added that the corporate bought 850 BTC in January at a worth of $37.2 million.
As for MicroStrategy’s non-Bitcoin efficiency, whole revenues for This autumn had been $124.5 million, down 6% year-over-year. Subscription providers revenues had been $21.5 million, up 23% year-over-year. MSTR inventory was up 1.51% on Feb. 6.
MicroStrategy is the biggest company Bitcoin investor
In its announcement at this time, MicroStrategy described itself as the biggest company holder of Bitcoin. Information from CoinGecko suggests that the subsequent largest Bitcoin treasury belongs to Galaxy Digital, which holds $754 million of BTC — roughly ten occasions lower than MicroStrategy’s present holdings.
Different company treasuries with vital Bitcoin embody these at Marathon Digital and Hut 8, Elon Musk’s Tesla, and Coinbase.
In all, 28 corporations maintain $11 billion price of Bitcoin, or about 1.35% of the entire Bitcoin market cap, in line with CoinGecko information.
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