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<p class="is-style-lead">MicroStrategy plans to sell 750 million shares of stock to acquire more Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="URL" data-id="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>). Its current portfolio holds a total of 152,800 BTC.</p> 
<p>The company <a href="https://www.microstrategy.com/en/investor-relations/press/microstrategy-announces-second-quarter-2023-financial-results_08-01-2023" target="_blank" rel="noopener noreferrer nofollow">reported</a> its intention to acquire more BTC in an SEC filing on August 1.</p> 
<p><a href="https://crypto.news/microstrategy-hang-seng-and-hsbc-make-waves-amid-rising-adoption-ftx-recovers-7b-weekly-recap/" rel="noopener noreferrer nofollow">MicroStrategy</a> reported $22.2 million in net income, increasing its revenue by far compared to last year’s period, with a net loss of 1.1 billion.</p> 
<p>The company had 152,800 bitcoins by July 31, valued at 4.5 billion USD. MicroStrategy’s CEO, Michael Saylor, shared updates on Twitter regarding the company’s intention to acquire more Bitcoin.</p> 
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   <p lang="en" dir="ltr">In July, <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@MicroStrategy</a> acquired an additional 467 BTC for $14.4 million and now holds 152,800 BTC. Please join us at 5pm ET as we discuss our Q2 2023 financial results and answer questions about the outlook for <a href="https://twitter.com/hashtag/BusinessIntelligence?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BusinessIntelligence</a> and <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a>. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$MSTR</a> <a href="https://t.co/SCHeBJ80TH" target="_blank" rel="noopener noreferrer nofollow">https://t.co/SCHeBJ80TH</a></p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1686468084574412800?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 1, 2023</a> 
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<h2 class="wp-block-heading" id="bitcoin-performance-during-q2">Bitcoin performance during Q2</h2> 
<p>The second quarter of the year has been a good period for Bitcoin’s performance, with better overall performance than altcoins.</p> 
<p>According to Coingecko’s <a href="https://www.coingecko.com/research/publications/2023-q2-crypto-report#:~:text=1.,%241.240%20trillion%20(%2B%241.7%20billion)." target="_blank" rel="noopener noreferrer nofollow">industry report</a>, <a href="https://crypto.news/bitcoin-dips-below-vital-29k-mark-as-volatility-hikes/" rel="noopener noreferrer nofollow">BTC</a> had some volatility during Q2 of 2023, ending the quarter with a 6.9% gain.</p> 
<p>Coingecko’s report stated that:</p> 
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 <p> “BTC outperformed the total crypto market cap, which increased by 0.14% during the same period, rising from $1.238 trillion to $1.240 trillion (+$1.7 billion).” “BTC also managed to hit a yearly high of $30,694 after the announcement of BlackRock’s spot bitcoin ETF filing on June 15.”</p> <cite>CoinGecko report</cite> 
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<p>MicroStrategy’s decision to acquire more bitcoin positively impacted the price of the cryptocurrency.</p> 
<p> Read more: <a href="https://crypto.news/insight-into-microstrategys-btc-investment-shows-profit-of-over-117m/" rel="noopener noreferrer nofollow"> Insight into MicroStrategy’s BTC investment shows profit of over $117m </a> </p>

MicroStrategy will buy more Bitcoins, Q2 report says

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