MicroStrategy purchased $167M price of Bitcoin in Q3 2023, holds over $4B whole

Steadfast Bitcoin investor MicroStrategy introduced that it bought one other batch of Bitcoin in its Q3 2023 earnings report on Nov. 1.

Andrew Kang, Chief Monetary Officer (CFO) at MicroStrategy, stated:

“We additional elevated our whole bitcoin holdings to 158,400 bitcoins, including 6,067 bitcoins for the reason that finish of the second quarter. Our dedication to accumulate and maintain bitcoin stays robust, particularly with the promising backdrop of potential elevated institutional adoption.”

The corporate utilized totally different valuation strategies to its Bitcoin holdings. It reported a complete market worth of $4.277 billion as of Sept. 30. It recognized the unique value foundation — that’s, the acquisition value — as $4.681 billion. The corporate additionally reported a a lot decrease carrying worth of $2.5451 billion, accounting for cumulative impairment losses of $2.230 billion.

Relating to its buy of 6,067 BTC for the reason that finish of Q2, MicroStrategy stated that this quantity was price $167 million in whole, or $27,531 per coin.

MicroStrategy government chairman Michael Saylor individually acknowledged that the corporate acquired 155 BTC in October alone, valued at $5.3 million.

On Oct. 27, Saylor highlighted that Bitcoin outperformed sure different high-profile investments on a 2023 year-to-date foundation. He supplied a chart indicating that Bitcoin gained 103% over that interval, whereas Nasdaq 100 gained 30% and gold gained 9.7%.

MicroStrategy began shopping for BTC in 2020

MicroStrategy first invested in Bitcoin in 2020 and has elevated its dedication to crypto funding since then. The corporate now describes Bitcoin funding and enterprise analytics software program as its two major company methods.

The agency is the publicly traded firm with the most important quantity of Bitcoin holdings. Different notable buyers like Marathon (which holds 13,286 BTC price $470 million) and Tesla (which holds $218 million of Bitcoin) rank distantly behind MicroStrategy’s $4 billion.

MicroStrategy can be creating providers associated to Bitcoin’s Lightning Community. The corporate introduced an enterprise Lightning plugin in late 2022, now mirrored on its web site. Saylor’s e mail handle was additionally transformed to a Lightning handle this 12 months.

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