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 rare 12 months 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 gives a novel alternative for worth creation for our shareholders.”
The corporate mentioned it had acquired 31,755 BTC because the 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, nonetheless, is considerably larger 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, aside from utilizing its strategic capital markets actions and money available to acquire BTC straight, the corporate benefited from a rise in Bitcoin costs through the closing 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, complete revenues for This fall had been $124.5 million, down 6% year-over-year. Subscription companies 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 right this moment, MicroStrategy described itself as the biggest company holder of Bitcoin. Information from CoinGecko means that the following 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 important Bitcoin embrace these at Marathon Digital and Hut 8, Elon Musk’s Tesla, and Coinbase.
In all, 28 corporations maintain $11 billion value of Bitcoin, or about 1.35% of the whole Bitcoin market cap, in line with CoinGecko information.
