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 <p>MicroStrategy disclosed in its third-quarter earnings report last week that it purchased 155 additional bitcoins in October. This brings the company’s total bitcoin acquisitions to 6,607 since the beginning of Q3 2022.</p>
 <p>As of October 31, MicroStrategy owns 158,400 bitcoins acquired at a cost of $4.69 billion, or around $29,586 per bitcoin. The company took an impairment loss of $33.6 million on its bitcoin holdings in Q3, with total cumulative impairment losses now reaching $2.23 billion.</p>
 <p>The average carrying value of MicroStrategy’s bitcoin is approximately $15,491 per coin. According to CoinMarketCap data, BTC hovers around $34,400 at press time.</p>
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 <p><strong>Also Read: US Government Arrests Founders of SafeMoon Crypto Token</strong></p>
 <h2 class="wp-block-heading" id="h-microstrategy-remains-robust-in-its-bitcoin-strategy">MicroStrategy remains robust in its Bitcoin strategy</h2>
 <p>MicroStrategy co-founder Michael Saylor stated in an earnings call that increasing regulatory clarity in the crypto industry makes institutional investors more comfortable participating. “<strong>I think we’ll see positive regulatory initiatives that will create more clarity and consistency during the coming 12 months,” he said.</strong></p>
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 <p>MicroStrategy began purchasing Bitcoin in 2020 as part of a corporate strategy to make cryptocurrency its primary treasury asset. Despite volatility and accounting losses, the company has continued to acquire more bitcoin, with Saylor being a vocal proponent of the digital currency.</p>
 <p>With bitcoin prices considerably below record highs, MicroStrategy appears to be taking advantage of lower prices to purchase more.&nbsp;</p>
 <p>Saylor maintains the company is playing a long game and views the blockchain asset as superior to holding fiat currencies like the U.S. dollar long-term due to inflationary concerns.</p>
 <p>MicroStrategy is not the only public company investing in Bitcoin. However, it has accumulated a substantially larger position than most other firms. Its commitment to acquiring and holding bitcoin remains strong, even as the cryptocurrency endures a yearlong bear market.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/microstrategy-buys-155-more-bitcoin-in-october-tbt68884.html">https://thebittimes.com/microstrategy-buys-155-more-bitcoin-in-october-tbt68884.html</a></p>

MicroStrategy Buys 155 More Bitcoin in October

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TheBitTimes

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