MicroStrategy, a leading service intelligence and software application business, has actually continued its unfaltering dedication to Bitcoin by acquiring an extra 850 BTC at an overall expense of $37.2 million, Founder & Chairman Michael Saylor revealed today.
“We acquired 31,755 additional bitcoins since the end of the third quarter, marking the largest quarterly bitcoin holding increase in the last 3 years and the 13th consecutive quarter of adding more bitcoin on our balance sheet,” mentioned Andrew Kang, MicroStrategy Chief Financial Officer. “We benefited from the significant increase in bitcoin prices in Q4 and we also continued to leverage our strategic capital markets activities and cash on hand to accumulate more bitcoin and accrete incremental value for our shareholders. It is through our unique bitcoin strategy and solid track record that we now hold 190,000 bitcoins at an aggregate purchase price of $31,224.”
The business at first went into the Bitcoin market in August 2020, making a substantial preliminary financial investment of $250 million into BTC. Since then, they have actually regularly contributed to their Bitcoin holdings, producing a treasury reserve technique that has actually gathered over 190,000 bitcoin worth more than $8.2 billion at the time of composing.
“2023 was an extraordinary year for MicroStrategy as we strategically raised capital to significantly increase our bitcoin holdings, and continued to innovate, including by developing and launching MicroStrategy AI, our first to market AI-based BI tool,” stated Phong Le, MicroStrategy President and Chief Executive Officer. “We achieved double-digit subscription services revenue growth for both the fourth quarter and full year, demonstrating our ongoing commitment to transition our business to the cloud. We believe that the combination of our operating structure, bitcoin strategy, and focus on technology innovation provides a unique opportunity for value creation for our shareholders.”
As the 4th Bitcoin cutting in half rapidly techniques, MicroStrategy continues its aggressive bitcoin financial investment technique without any indications of decreasing.
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