Andrew Kang, Chief Monetary Officer (CFO) at MicroStrategy, mentioned:
“We additional elevated our whole bitcoin holdings to 158,400 bitcoins, including 6,067 bitcoins for the reason that finish of the second quarter. Our dedication to accumulate and maintain bitcoin stays robust, particularly with the promising backdrop of potential elevated institutional adoption.”
The corporate utilized completely different valuation strategies to its Bitcoin holdings. It reported a complete market worth of $4.277 billion as of Sept. 30. It recognized the unique price foundation — that’s, the acquisition worth — as $4.681 billion. The corporate additionally reported a a lot decrease carrying worth of $2.5451 billion, accounting for cumulative impairment losses of $2.230 billion.
Concerning its buy of 6,067 BTC for the reason that finish of Q2, MicroStrategy mentioned that this quantity was price $167 million in whole, or $27,531 per coin.
On Oct. 27, Saylor highlighted that Bitcoin outperformed sure different high-profile investments on a 2023 year-to-date foundation. He offered a chart indicating that Bitcoin gained 103% over that interval, whereas Nasdaq 100 gained 30% and gold gained 9.7%.
MicroStrategy began shopping for BTC in 2020
MicroStrategy first invested in Bitcoin in 2020 and has elevated its dedication to crypto funding since then. The corporate now describes Bitcoin funding and enterprise analytics software program as its two predominant company methods.
The agency is the publicly traded firm with the biggest quantity of Bitcoin holdings. Different notable traders like Marathon (which holds 13,286 BTC price $470 million) and Tesla (which holds $218 million of Bitcoin) rank distantly behind MicroStrategy’s $4 billion.
MicroStrategy can also be growing providers associated to Bitcoin’s Lightning Community. The corporate introduced an enterprise Lightning plugin in late 2022, now mirrored on its website. Saylor’s e mail tackle was additionally converted to a Lightning address this yr.
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