MicroStrategy Buys 850 More Bitcoin for $37 Million

MicroStrategy, a number one enterprise intelligence and software program firm, has continued its steadfast dedication to Bitcoin by buying a further 850 BTC at a complete price of $37.2 million, Founder & Chairman Michael Saylor announced as we speak.

“We acquired 31,755 additional bitcoins since the end of the third quarter, marking the largest quarterly bitcoin holding increase in the last 3 years and the 13th consecutive quarter of adding more bitcoin on our balance sheet,” stated Andrew Kang, MicroStrategy Chief Monetary Officer. “We benefited from the significant increase in bitcoin prices in Q4 and we also continued to leverage our strategic capital markets activities and cash on hand to accumulate more bitcoin and accrete incremental value for our shareholders. It is through our unique bitcoin strategy and solid track record that we now hold 190,000 bitcoins at an aggregate purchase price of $31,224.”

The corporate initially entered the Bitcoin market in August 2020, making a big preliminary funding of $250 million into BTC. Since then, they’ve constantly added to their Bitcoin holdings, making a treasury reserve technique that has garnered over 190,000 bitcoin price greater than $8.2 billion on the time of writing.

“2023 was an extraordinary year for MicroStrategy as we strategically raised capital to significantly increase our bitcoin holdings, and continued to innovate, including by developing and launching MicroStrategy AI, our first to market AI-based BI tool,” stated Phong Le, MicroStrategy President and Chief Govt Officer. “We achieved double-digit subscription services revenue growth for both the fourth quarter and full year, demonstrating our ongoing commitment to transition our business to the cloud. We believe that the combination of our operating structure, bitcoin strategy, and focus on technology innovation provides a unique opportunity for value creation for our shareholders.”

Because the fourth Bitcoin halving shortly approaches, MicroStrategy continues its aggressive bitcoin funding technique with no indicators of slowing down.

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