CDS Crypto News In Q4 MicroStrategy made a purchase of 1.25 billion Dollars in Bitcoin
Crypto News

In Q4 MicroStrategy made a purchase of 1.25 billion Dollars in Bitcoin

The company currently possesses 190,000 BTC in its corporate treasury.

60
In Q4 MicroStrategy made a purchase of 1.25 billion Dollars in Bitcoin

Crypto News– Business intelligence firm MicroStrategy disclosed its Bitcoin acquisitions for the fourth quarter of 2023 in a press release issued on February 6th.

In Q4 MicroStrategy made a purchase of 1.25 billion Dollars in Bitcoin

Phong Le, the President and CEO of MicroStrategy, commented on the developments, stating, “2023 was an extraordinary year for MicroStrategy as we strategically raised capital to significantly increase our bitcoin holdings. We believe that the combination of our operating structure, bitcoin strategy, and focus on technology innovation provides a unique opportunity for value creation for our shareholders.”

According to the company’s announcement, MicroStrategy procured 31,755 BTC since the end of Q3 2024 for $1.25 billion, averaging to $39,411 per bitcoin.

As of February 5, 2024, MicroStrategy’s total Bitcoin holdings stand at 190,000 BTC, acquired at an aggregate cost of $5.93 billion, or $31,224 per BTC. However, the current market value of these Bitcoin holdings is substantially higher, estimated at around $8 billion.

Andrew Kang, the CFO of MicroStrategy, highlighted that these latest additions represent the firm’s largest quarterly increase in Bitcoin holdings over the past three years, marking the 13th consecutive quarter of Bitcoin purchases. Kang also noted that, in addition to utilizing strategic capital markets activities and available cash to acquire BTC directly, the company benefited from the rise in Bitcoin prices during the final quarter of 2023.

MicroStrategy holds the title of being the foremost corporate investor in Bitcoin

In today’s announcement, MicroStrategy positioned itself as the foremost corporate holder of Bitcoin. According to data from CoinGecko, the next largest Bitcoin treasury belongs to Galaxy Digital, which holds approximately $754 million worth of BTC — roughly one-tenth the size of MicroStrategy’s current holdings.

Other notable corporate treasuries with substantial Bitcoin holdings include those at Marathon Digital and Hut 8, along with Elon Musk’s Tesla and Coinbase.

Binance to remove Monero from its listing after previously adding a 'monitoring tag;' XMR experiences a 15% drop

Leave a comment

Leave a Reply

Related Articles

4.3 Billion Binance Plea Deal Confirmed by a Prosecutor

4.3 billion Binance plea deal was recently approved.

Trump and Crypto: Former President’s Perspective on Crypto Has Changed in 2024

The bad relationship between Trump and crypto seems to be improving.

Only four Bitcoin ETFs get the nod from a 30-billion Dollars financial advisor platform

Carson Group, a $30-billion registered investment advisor (RIA) platform, has approved four...