MicroStrategy Expands Bitcoin Holdings to 190,000 BTC

In January, MicroStrategy acquired an additional 850 BTC for $37.2 million, increasing its Bitcoin reserves to 190,000 BTC (approximately $8.17 billion at the time of writing).

In January, @MicroStrategy acquired an additional 850 BTC for $37.2 million and now holds 190,000 BTC. Please join us at 5pm ET as we discuss our Q4 2023 financial results and answer questions about our #bitcoin strategy and business outlook. $MSTR https://t.co/j5SbcELsue

— Michael Saylor⚡️ (@saylor) February 6, 2024

According to the report, MicroStrategy purchased 31,755 BTC in the fourth quarter of 2023 at an average price of $39,411.

As of February 5, the cost of acquiring 190,000 BTC amounted to $5.93 billion, with an average purchase price of $31,224.

“2023 was an extraordinary year for MicroStrategy as we raised strategic capital to significantly increase our Bitcoin reserves and continued to innovate, including the launch of MicroStrategy AI, our first market-leading AI-based business analytics tool,” stated the company’s CEO, Phong Le.

For the fourth quarter, MicroStrategy reported a 6.1% year-over-year decline in total revenues to $124.5 million. Of the total, the analytics software provider’s revenues comprised:

• $39.9 million in license fees (-11.4%);
• $65.5 million for product support (-2.1%).

Other company revenues decreased to $19.1 million, down 7.5%.

In October, MicroStrategy acquired 155 BTC for $5.3 million. In November, the firm purchased an additional 16,130 BTC for $593.3 million, and in December, another 14,620 BTC for $615.7 million.

At the end of 2023, MicroStrategy’s founder Michael Saylor speculated on Bitcoin’s potential to either fall to zero or rise to $1 million.