News - MicroStrategy increases Bitcoin holdings to 158,400 BTC.

By Luc Vesters

MicroStrategy increases Bitcoin holdings to 158,400 BTC.

Bitcoin (BTC)
Investing

Microstrategy is also pushing ahead in the third quarter of 2023. According to the new quarterly report the software company's Bitcoin holdings have now grown to 158,400 BTC.

"We further expanded our total Bitcoin holdings to 158,400 Bitcoins, adding 6,067 Bitcoins since the end of the second quarter," said Andrew Kang, MicroStrategy's chief financial officer. "Our drive to get and hold Bitcoin positions remains strong, especially against the promising backdrop of potentially increasing acceptance by institutional investors."

On average, MicroStrategy acquired its 158,400 BTC for a total price of $4.69 billion, or $29,586 per Bitcoin holding. In the context of the recent rally in crypto market this brings the total equivalent value to about $5.59 billion. This means that MicroStrategy's Bitcoin position is currently up about US$900 million.

At 129.5 million US dollars, MicroStrategy also managed to increase its revenue by 3 percent over the previous year. Still, the business intelligence company drove a net loss of more than US$140 million in the third quarter. Microstrategy still owns about 0.72 percent of total Bitcoin holdings.

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