MicroStrategy, a leading business intelligence and software company, has continued its steadfast 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 have acquired an additional 31,755 bitcoins since the end of the third quarter, representing the largest quarterly increase in bitcoin holdings in the past three years and the 13th consecutive quarter of adding more bitcoin to our balance sheet,” said Andrew Kang, CFO of MicroStrategy. . “We benefited from the significant increase in Bitcoin prices in the fourth quarter and also continued to leverage our strategic activities in the capital markets and available funds to accumulate more Bitcoin and increase additional value for our shareholders. This is done through our unique Bitcoin strategy and strong track record. We now own 190,000 Bitcoin For a total purchase price of $31,224.”
The company initially entered the Bitcoin market in August 2020, making a large initial investment of $250 million in Bitcoin. Since then, they have continually added to their Bitcoin holdings, creating a treasury reserve strategy that has amassed over 190,000 Bitcoin worth over $8.2 billion at the time of writing.
“2023 was an exceptional year for MicroStrategy, as we strategically raised capital to significantly increase our Bitcoin holdings, and continued to innovate, including through the development and launch of MicroStrategy AI, the world’s first intelligence tool,” said Phong Lu, President of MicroStrategy. Businesses that rely on artificial intelligence for their marketing. And CEO. “We achieved double-digit growth in subscription services revenue for both the fourth quarter and the full year, demonstrating our continued commitment to moving our business to the cloud. We believe the combination of our operating structure, Bitcoin strategy, and focus on technology innovation provides a unique opportunity to create value for our shareholders.”
With the fourth Bitcoin halving quickly approaching, MicroStrategy continues its aggressive Bitcoin investment strategy with no signs of slowing down.
