MicroStrategy’s Latest Bitcoin Investment: 850 BTC for $37M!

MicroStrategy, a leading business intelligence and software company, has reaffirmed its unwavering dedication to Bitcoin by acquiring an additional 850 BTC at a total cost of $37.2 million, as announced today by Founder & Chairman Michael Saylor.

Andrew Kang, MicroStrategy's Chief Financial Officer, revealed, “We acquired 31,755 additional bitcoins since the end of the third quarter, marking the largest quarterly increase in bitcoin holdings in the last three years and the 13th consecutive quarter of adding more bitcoin to our balance sheet. We capitalized on the substantial rise in bitcoin prices in Q4 and continued to utilize our strategic capital markets activities and available cash to accumulate more bitcoin, enhancing incremental value for our shareholders. It is our unique bitcoin strategy and proven track record that has enabled us to amass 190,000 bitcoins at an average purchase price of $31,464.”

The company's foray into the Bitcoin market began in August 2020, with an initial investment of $250 million in BTC. Since then, MicroStrategy has consistently augmented its Bitcoin reserves, establishing a treasury reserve strategy that has amassed over 190,000 bitcoins, valued at more than $8.2 billion at the current market value.

“2023 proved to be an exceptional year for MicroStrategy, as we strategically raised capital to substantially increase our bitcoin holdings while continuing to innovate, including the development and launch of MicroStrategy AI, our pioneering AI-based BI tool,” remarked Phong Le, MicroStrategy's President and Chief Executive Officer. “We achieved double-digit growth in subscription services revenue for both the fourth quarter and the full year, underscoring our ongoing commitment to transitioning our business to the cloud. We believe that our operational framework, bitcoin strategy, and emphasis on technological innovation present a distinctive opportunity for value creation for our shareholders.”

With the fourth Bitcoin halving on the horizon, MicroStrategy maintains its aggressive Bitcoin investment strategy, displaying no indications of slowing down its proactive approach.