MicroStrategy Now Holds 190K BTC: Q4 2023 Report

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MicroStrategy Now Holds 190K BTC: Q4 2023 Report

The American software company, MicroStrategy, has released its Q4 2023 report showing that it has increased its BTC holdings to 190k. The increment comes after a recent purchase in January.

In a recent development, business intelligence firm, MicroStrategy, has announced its Bitcoin acquisition and total BTC holdings for the fourth quarter of 2023.

MicroStrategy ups Bitcoin holdings

The company made this known in a February 6 press release announcing its financial results for the period. According to the statement, the company had purchased 31,755 BTC since the end of the third quarter of 2023.

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MicroStrategy acquired this amount for $1.25 billion, or $39,411 per Bitcoin. As a result, the company now holds a total of 190 thousand BTC tokens at a total cost of $5.93 billion, or $31,224 per Bitcoin as of February 5. However, their Bitcoin assets are currently valued at a much higher $8 billion on the market.

Phong Le, MicroStrategy President and CEO said in a statement that 2023 was a wonderful year for the company as it raised capital to increase its Bitcoin investments.

“We achieved double-digit subscription services revenue growth for both the fourth quarter and full year, demonstrating our ongoing commitment to transition our business to the cloud. 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,” said Le.

The most recent additions, according to MicroStrategy CFO Andrew Kang, represented the company’s 13th consecutive quarter of Bitcoin purchases and its biggest quarterly rise in Bitcoin holdings in three years.

In addition to using its cash on hand and strategic capital markets actions to directly acquire BTC, Kang stated that the company also profited from a rise in Bitcoin prices in the last quarter of 2023.

Also, the founder and chairman of MicroStrategy, Michael Saylor pointed out that the company purchased an additional 850 Bitcoins in January at $37.2 million.

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MicroStrategy maintains the largest public Bitcoin holder status

Following this move, MicroStrategy cements its position as the largest corporate Bitcoin holder in the world. According to data from CoinGecko, the value of MicroStrategy’s Bitcoin holding has now surpassed $7.5 billion.

The data shows that Galaxy Digital Holdings comes a distant second with a total of 17,518 BTC valued at $755,536,246 ($755.5 million). This value is approximately ten times less than MicroStrategy’s total holdings.

Other companies that made the top 5 list include Marathon Digital Holdings, Tesla Inc., and Hut 8 Mining Corp with $590 million, $452 million, and $403.9 million in Bitcoin respectively.

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Victor Nnamdi Igbor "Swaezy" is a crypto enthusiast and writer with over 8 experience in blogging. He is an easy person and when not working, loves to have a good time.