MicroStrategy increases its Bitcoin holdings to 214,400 BTC through a $7.8m acquisition.
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MicroStrategy Continues to Bolster Its Bitcoin Holdings, Adding 122 BTC in April
MicroStrategy, the leading public company in terms of Bitcoin holdings, has further expanded its crypto assets, as revealed in the company’s latest quarterly report. According to the report, MicroStrategy acquired an additional 122 BTC in April, increasing its total Bitcoin holdings to 214,400 BTC, valued at approximately $13.5 billion.
In a post on X (formerly known as Twitter) on April 29th, Michael Saylor, the former managing director of MicroStrategy, announced the company’s latest Bitcoin acquisition. This latest purchase brings MicroStrategy’s total Bitcoin holdings to 25,250 BTC since the end of the fourth quarter of 2023. The report indicates that the average purchase price for the latest batch of BTC was $35,180.
MicroStrategy’s CEO, Phong Le, expressed the company’s unwavering commitment to the continued development of the Bitcoin network. He also noted that in the first quarter, MicroStrategy’s subscription services revenues and subscription billings both experienced double-digit growth rates.
Despite the robust 22% year-over-year increase in subscription services revenues, totaling $23 million, the company’s overall revenues for the first quarter declined slightly to $115.2 million, a 5.5% decrease compared to the same period in 2023. Meanwhile, operating expenses surged to $288.9 million in the first quarter, marking a 152.8% increase compared to the same period last year.
Following the announcement, the share price of MicroStrategy (MSTR) saw a modest uptick of 0.8%, reaching $1,292, according to data from Google Finance. As of the time of writing, Bitcoin is trading at around $63,250, as per data from CoinMarketCap.
