MicroStrategy Acquires $805 Million in Bitcoin in Q2

MicroStrategy has expanded its Bitcoin holdings by acquiring an additional 12,222 BTC for $805 million in the second quarter, bringing its total reserves to 226,500 BTC (~$14.7 billion). This was revealed in the firm’s report. 

Over the past three months, the company reported a loss of $5.74 per share with quarterly revenue of $111.4 million—a 7% decline compared to the previous year. 

The figures fell short of analysts’ expectations, who, according to a Bloomberg survey, had projected a loss of $0.78 per share and revenue of $119.3 million.

The company stated that the 226,500 BTC were acquired for $8.5 billion at an average price of $36,821 per coin. 

The firm also introduced a new key performance indicator called “Bitcoin Yield,” which reflects the percentage change in the ratio between the company’s assets in the leading cryptocurrency and its diluted shares outstanding.

Since the beginning of the year, this metric has reached 12.2%. MicroStrategy emphasized its intention to maintain it in the range of 4% to 8% annually over the next three years.

“The company uses Bitcoin yield as a key metric to assess the effectiveness of its digital gold acquisition strategy, which it believes benefits shareholders,” the statement said. 

The firm confirmed that its 10:1 stock split, initially scheduled for July 11, will occur on August 7.

According to the report, the company will file a registration form to place its securities on the market for $2 billion in an attempt to raise additional capital. 

At the time of writing, MicroStrategy’s shares are trading at $1569, up 3.7% after the session closed. 

In June, the firm reported the purchase of 11,931 BTC for $785 million and the issuance of $800 million in shares.

In the same month, the value of open short positions on MicroStrategy’s shares rose to $6.9 billion. This figure has tripled over the past six months.