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 <p class="is-style-lead">MicroStrategy plans to sell 750 million shares of stock to acquire more Bitcoin (BTC). Its current portfolio holds a total of 152,800 BTC.</p> 
 <p>The company <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a>ed its intention to acquire more BTC in an SEC filing on August 1.</p> 
 <p>MicroStrategy <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a>ed $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> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">In July, @MicroStrategy 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 #BusinessIntelligence and #Bitcoin. $MSTR https://t.co/SCHeBJ80TH</p>— Michael Saylor️ (@saylor) August 1, 2023 
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 </figure> 
 <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 industry <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a>, BTC had some volatility during Q2 of 2023, ending the quarter with a 6.9% gain.</p> 
 <p>Coingecko’s <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> stated that:</p> 
 <blockquote class="wp-block-quote"> 
  <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> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Insight into MicroStrategy’s BTC investment shows profit of over $117m 
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MicroStrategy will buy more Bitcoins, Q2 report says

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