bitcoin/bitcoin-microstrategy-btc-bet/” rel=”nofollow noopener” target=”_blank”>MicroStrategy Software Company don't give up on your 'bitcoin Strategy', as a recent event suggests. He company co-founder, Michael Saylorrevealed that the company had increased its btc holdings following another acquisition of the flagship crypto token.
MicroStrategy acquires more btc
bitcoin/michael-saylor-bitcoin-1-million/” rel=”nofollow noopener” target=”_blank”>Taylor indicated with an X (formerly Twitter) mail that his company had acquired an additional 850 btc for $37.2 million in January. This brings the company's total btc holdings to 190,000 btc. Microstrategy He also recently launched his fourth quarter 2023 financial resultswhich provided more information about his bitcoin portfolio.
According to the report, the software company has acquired 31,755 btc since the end of Q3 2023 for $1.25 billion, or an average of $39,411 per btc. These purchases are said to mark the largest quarterly increase in bitcoin holdings in the last three years and the 13th consecutive quarter in which the company added more btc to its balance sheet.
Meanwhile, MicroStrategy bitcoin/microstrategy-4-6-billion-bitcoin/” rel=”nofollow noopener” target=”_blank”>bitcoin bet still has profits. The company's financials showed that there were bitcoin-news/major-acquisition-microstrategy-grows-bitcoin-reserves-by-14k-btc-ahead-of-etf-approval/” rel=”nofollow noopener” target=”_blank”>acquired his 190,000 btc at an average of $31,224 per btc, or a total cost of $5.93 billion. Considering that bitcoin is currently trading at around $43,000, the company has an unrealized profit of $2.2 billion on its btc holdings.
The 'bitcoin strategy' continues to bear fruit
MicroStrategy Chief Financial Officer (CFO) Andrew Kang mentioned that the company benefited from the significant increase in The price of bitcoin in the fourth quarter of 2023. That period happened to be when btcbtc/bitcoin-price-surges-over-40k/” rel=”nofollow noopener” target=”_blank”> the price continued to rise after rumors about the possible approval of the bitcoin/bitcoin-spot-etfs-approved/” rel=”nofollow noopener” target=”_blank”>bitcoin Spot ETF.
Kang also revealed that the company saw it as an opportunity to accumulate more btc and “accumulate incremental value” for its shareholders. These shareholders They are reported have benefited from the company's “unique bitcoin strategy.” as the company's shares rose more than 300% last year thanks largely to its exposure to btc.
Meanwhile, it is worth mentioning that there is have been concerns on how much longer MicroStrategy's btc strategy could influence its success, especially with the launch of bitcoin Spot ETFs. Some investors have previously invested in MicroStrategy due to exposure to btc, but now bitcoin Spot ETFs appear to serve as a better alternative for such investors.
Data MarketWatch shows that the company's shares have fallen just over 21% since the beginning of the year. This price drop could be partly due to investors selling their shares and rotating them into spot bitcoin ETFs.
<img decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/npALWkmj/" alt="Tradingview.com bitcoin Price Chart (MicroStrategy btc)” width=”3286″ height=”1530″/>
btc price falls to $42,900 | Source; BTCUSD on Tradingview.com
Featured image of Bitcoinsensus, chart from Tradingview.com
