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Michael Saylor founded analytical software company MicroStrategy acquired an additional 850 BTC for $37.2 million in January. 
Saylor disclosed in <a href="https://twitter.com/saylor/status/1754976122607980726" target="_blank" rel="noreferrer noopener">an X post</a> on Feb. 7 that this latest purchase has propelled <a href="https://crypto.news/tag/microstrategy/" target="_blank" rel="noreferrer noopener">MicroStrategy</a>‘s <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> holdings to 190,000 BTC, valued at more than $8.1 billion at current prices. 
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 In January, <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@MicroStrategy</a> acquired an additional 850 BTC for $37.2 million and now holds 190,000 BTC. Please join us at 5pm ET as we discuss our Q4 2023 financial results and answer questions about our <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#bitcoin</a> strategy and business outlook. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$MSTR</a> <a href="https://t.co/j5SbcELsue" target="_blank">https://t.co/j5SbcELsue</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1754976122607980726?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 6, 2024</a>
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According to the company’s <a href="https://www.microstrategy.com/press/microstrategy-announces-fourth-quarter-2023-financial-results-now-holds-190000-btc_02-06-2024" target="_blank" rel="noreferrer noopener">press release</a>, as of Feb. 5, the total cost of the purchased BTC stood at $5.93 billion, averaging $31,224 per BTC. Despite a 6% year-over-year decrease in total revenues to $124.5 million, MicroStrategy reported a notable increase in subscription services revenues during the same period, up by 23% to $21.5 million. 
 You might also like: <a href="https://crypto.news/michael-saylor-starts-selling-216m-in-microstrategy-shares-to-purchase-more-btc/"> Michael Saylor starts selling $216m in MicroStrategy shares to purchase more BTC </a> 
MicroStrategy CEO Phong Le characterized 2023 as an “extraordinary year,” emphasizing the company’s strategic capital raising efforts to bolster its Bitcoin holdings. 
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 “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.” 
 Phong Le 
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MicroStrategy CFO Andrew Kang highlighted the company’s benefit from the “significant increase in Bitcoin prices in Q4,” along with strategic capital markets activities and available cash. 
In December 2023, MicroStrategy made <a href="https://crypto.news/microstrategy-adds-620m-bitcoin-to-massive-btc-stash/" target="_blank" rel="noreferrer noopener">another</a> substantial Bitcoin purchase, acquiring 14,620 BTC at an average price of $42,110 per coin, amounting to over $615 million. The company commenced its Bitcoin accumulation in 2020 amidst the global pandemic, with Saylor aiming to hedge against what he perceived as the growing threat of inflation. 
 Read more: <a href="https://crypto.news/expert-calls-microstrategy-shares-overvalued-predicts-price-correction/"> Expert calls MicroStrategy shares overvalued, predicts price correction </a>

MicroStrategy added 850 BTC to its balance sheet, increased holdings to 190,000 BTC

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