Home web3.0 MicroStrategy bought 31,000 Bitcoins in Q4, the largest growth in 3 years! Current total holdings are 190,000 coins

MicroStrategy bought 31,000 Bitcoins in Q4, the largest growth in 3 years! Current total holdings are 190,000 coins

Feb 08, 2024 am 08:03 AM
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MicroStrategy bought 31,000 Bitcoins in Q4, the largest growth in 3 years! Current total holdings are 190,000 coins

MicroStrategy, a listed company in the United States, announced its fourth quarter financial report yesterday, announcing that it purchased 30,555 Bitcoins through proceeds from capital market activities and used excess cash to purchase 350 Bitcoins, a total investment of US$1.2 billion. This move further solidifies MicroStrategy’s position in the Bitcoin market and demonstrates their long-term bullishness on Bitcoin. MicroStrategy, a leading company in data analytics and business intelligence, views Bitcoin as an important asset and includes it as part of an investment portfolio. The decision to purchase Bitcoin was based on their confidence in the long-term value of Bitcoin and concerns about the risk of depreciation of traditional currencies.

In early 2024, MicroStrategy invested another $37.2 million, purchasing 850 Bitcoins. Since the fourth quarter of last year, MicroStrategy has accumulated a total of 31,755 Bitcoins, which is the company’s largest quarterly increase in the past three years and the 13th consecutive quarter that it has added Bitcoin to its balance sheet.

MicroStrategy bought 31,000 Bitcoins in Q4, the largest growth in 3 years! Current total holdings are 190,000 coins

How many BTC does MicroStrategy currently have?

As of February 5, 2024, according to data disclosed by MicroStrategy, the company held 190,000 Bitcoins, with an average purchase price of US$31,224 and a total purchase cost of US$5.93 billion. Currently, the market value of these Bitcoins has reached US$8.19 billion, equivalent to a floating profit of US$2.26 billion.

Overall, MicroStrategy’s net profit last year was US$89.1 million, with a loss of US$249.7 million, and revenue decreased by 6.1% year-on-year to US$124.5 million. Michael Saylor, executive chairman of MicroStrategy, said at the conference that the company's performance last year can be attributed to investors recognizing the "digital transformation" of assets. He believes that 2024 will be the year when Bitcoin is born as an institutional-grade asset class. This is the first brand-new asset class in modern times. The next 15 years will be a period when Bitcoin is regulated, institutionalized and grows rapidly. It will be different from the past. 15 years are very different. This view shows that MicroStrategy is optimistic about Bitcoin’s long-term prospects.

Optimistic about Bitcoin rising another 100 times

Michael Saylor believes that the listing of Bitcoin spot ETF will be an important moment, which will transform Bitcoin from a medium of exchange to a store of value means. This way, people will no longer face past criticism of Bitcoin’s failure to fulfill its role as a currency. As a store of value, Bitcoin has reason to continue to outperform the market and even rise another 100x.

Looking forward, Michael Saylor noted that MicroStrategy will continue to develop software and work with Bitcoin developers to develop Bitcoin-based L2, as well as other ecosystem players to add in the coming years. The company’s earnings, and the micro-strategy will continue to buy more Bitcoin.

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