News - MicroStrategy increases Bitcoin holdings to 214,400 - despite net loss

By Mike Hesp

MicroStrategy increases Bitcoin holdings to 214,400 - despite net loss

Bitcoin (BTC)

MicroStrategy remains unchallenged on Bitcoin. The company has bought 25,250 Bitcoin since last quarter alone.

MicroStrategy remains committed to their Bitcoin-strategy. Last night the company released its first quarter figures.

This shows: the company is still showing "Diamond Hands." Altogether, MicroStrategy has been in business since the end of the previous quarter collected 25,500 Bitcoin.

The cost was $1.65 billion. The U.S. company paid an average of $65,232 per BTC.

As a result, Bitcoin holdings grew to a total of 214,400 BTC, currently worth $7.54 billion, at an average price of $35,180 per BTC. Among listed companies, MicroStrategy remains the leader and even extends its own position further. As a result, the U.S. company now owns just over 1 percent of the total Bitcoin circulation.

Behind this strategy is Michael Saylor. The founder and longtime CEO of MicroStrategy is known as a big advocate of Bitcoin. His company invested in the cryptocurrency early on.

Operationally, however, things did not go as well for MicroStrategy. In its current balance sheet, the company reported a net loss of $53.1 million or $3.09 per share. This decline, however, seems hardly surprising. After all, MSTR shares correlated strongly with the Bitcoin price in the past. Thus, the securities fund benefited greatly from the bull run of Bitcoin and other cryptocurrencies in recent months.

Compared to the first quarter of 2023, the stock reported a gain of $31.79 apiece. So in one year, MSTR rose nearly 300 percent.

At the time of writing, the stock trades off-exchange at $1,261.

Download the Anycoin App

Finally, a crypto app for everyone!

Check it out