MicroStrategy, a leading software and business intelligence company, has continued its strong commitment to bitcoin by purchasing an additional 850 btc at a total cost of $37.2 million, founder and president Michael Saylor. Announced today.
“We acquired an additional 31,755 bitcoins since the end of the third quarter, marking the largest quarterly increase in bitcoin holdings in the last 3 years and the 13th consecutive quarter in which we added more bitcoins to our balance sheet.” fixedAndrew 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 cash to accumulate more bitcoin and increase value for our shareholders. It is through our unique strategy of bitcoin and our strong track record. that we now have 190,000 bitcoins at an aggregate purchase price of $31,224.”
The company initially entered the bitcoin market in August 2020, making a significant initial investment of $250 million in btc. Since then, they have steadily increased their bitcoin holdings, creating a treasury reserve strategy that has netted over 190,000 bitcoins worth over $8.2 billion at the time of writing.
“2023 was a banner 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, our first ai-based BI tool on the market,” he said. Phong Le, President of MicroStrategy. and General Director. “We achieved double-digit growth in subscription services revenue for both the fourth quarter and the full year, demonstrating our continued commitment to transitioning our business to the cloud. We believe that the combination of our operating structure, “bitcoin strategy and focus on technological innovation provides a unique value creation opportunity for our shareholders.”
As the fourth bitcoin halving quickly approaches, MicroStrategy continues its aggressive bitcoin investment strategy with no signs of slowing down.
