MicroStrategy Purchases $37M in Bitcoin

According to MicroStrategy, the company with the largest public holdings of Bitcoin, it acquired an addition of 850 BTC in January, bringing its total holdings to 190,000 BTC, which is currently worth $8.1 billion.

During its Q4 2023 earnings call on February 6, the chief financial officer of the business software firm, Andrew Kang, revealed that it had acquired 56,650 BTC in 2023 at an average price of $33,580.

The company also reported a net income of $89.1 million, a significant improvement from the $249.7 million loss in the previous year, and a decrease in revenue of 6.1% to $124.5 million.

MicroStrategy’s executive chairman, Michael Saylor, attributed the company’s success in 2023 to investors recognizing the digital transformation of assets and the emergence of Bitcoin as an institutional-grade asset class.

Saylor also predicted that the next 15 years will see a regulated and institutional growth for Bitcoin, different from the last 15 years.