MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase

2024-04-29 22:57:55

MicroStrategy’s Bitcoin holdings increased by 122 BTC in April, according to the company’s latest quarterly report.

MicroStrategy, the largest Bitcoin holder among public companies, keeps buying more BTC, as its latest quarterly report indicates the company injected another $7.8 million, pushing the total amount of its crypto holdings to 214,400 BTC, valued at around $13.5 billion.

In an X post on Apr. 29, Michael Saylor, former managing director of MicroStrategy, said the company boosted its holdings by 122 BTC in April, propelling its holdings by 25,250 BTC since the end of Q4 2023. According to the company’s quarterly report, the latest acquisition resulted in an average purchase price of $35,180 per BTC.

MicroStrategy CEO Phong Le said the Virginia-headquartered company “is committed to the continued development of the Bitcoin network,” adding that in the first quarter, MicroStartegy’s subion services revenues and subion billings “both grew again at double-digit growth rates.”

Despite witnessing a robust 22% year-over-year surge in subion services revenues, totaling $23 million, the overall revenues for Q1 experienced a slight decline, reaching $115.2 million, a 5.5% decrease compared to Q1 2023. Meanwhile, operating expenses surged to $288.9 million in Q1, 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 press time, Bitcoin is trading at around $63,250 as per data from CoinMarketCap.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.