US-listed company MicroStrategy announced its fourth-quarter financial report on the 7th, revealing that it has increased its holdings of 31,755 bitcoins since the fourth quarter of last year, including an additional 850 bitcoins in January this year. Its total bitcoin holdings have reached 190,000, with a floating profit of 2.26 billion US dollars.
(Prior summary:
MicroStrategy CEO sells off $20 million worth of shares! Michael Saylor sells personal holdings in order to buy more bitcoins.)
(Background information:
Michael Saylor sells $216 million worth of MicroStrategy stocks: plans to continuously increase bitcoin holdings in the next three months.)
US-listed company MicroStrategy announced its fourth-quarter financial report yesterday (7), stating that the company used capital market activities to purchase 30,555 bitcoins in the last quarter, spending $1.2 billion. It also used excess cash to purchase an additional 350 bitcoins ($13.4 million).
Starting in 2024, MicroStrategy once again spent $37.2 million to purchase 850 bitcoins. Since the fourth quarter of last year, MicroStrategy has increased its holdings of 31,755 bitcoins, setting a record for the company’s largest quarterly increase in the past three years and marking the 13th consecutive quarter of bitcoin accumulation on its balance sheet.
How much BTC does MicroStrategy currently hold?
As of February 5, 2024, MicroStrategy holds a total of 190,000 bitcoins, with an average purchase price of $31,224. The total cost of purchase is $5.93 billion, and the current value of the held bitcoins has reached $8.19 billion, equivalent to a floating profit of $2.26 billion.
Overall, MicroStrategy had a net profit of $89.1 million last year, with a loss of $249.7 million. Its revenue decreased by 6.1% to $124.5 million. Michael Saylor, the Chairman and CEO of MicroStrategy, stated during the conference call that the company’s performance last year can be attributed to investors recognizing the “digital transformation” of assets. He believes that Bitcoin will continue to outperform the market and potentially increase another 100-fold.
Michael Saylor also mentioned that the listing of Bitcoin spot ETFs is a catalytic moment, transforming Bitcoin from a medium of exchange to a store of value. People will no longer need to face criticisms about Bitcoin’s failure to function as a currency. As a store of value, there is no reason for Bitcoin not to continue to outperform the market and potentially increase another 100-fold.
Looking ahead, Michael Saylor pointed out that MicroStrategy will continue to develop software and collaborate with Bitcoin developers to build on Bitcoin’s Layer 2. It will also work with other ecosystem participants to increase the company’s revenue in the coming years, and MicroStrategy will continue to purchase more bitcoins.
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