Bitcoin

<p class="is-style-lead">MicroStrategy’s Bitcoin holdings increased by 122 BTC in April, according to the company’s latest quarterly report.</p> 
<p><a href="https://crypto.news/tag/microstrategy/" target="_blank" rel="">MicroStrategy</a>, the largest <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> holder among public companies, keeps buying more BTC, as its latest quarterly report indicates the company injected another $7.8 million, pushing the total amount of its crypto holdings to 214,400 BTC, valued at around $13.5 billion.</p> 
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   <p lang="en" dir="ltr">In April, <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw" target="_blank" rel="">@MicroStrategy</a> acquired an additional 122 BTC for $7.8 million and now holds 214,400 BTC. Please join us at 5pm ET as we discuss our Q1 2024 financial results and answer questions about the outlook for <a href="https://twitter.com/hashtag/BusinessIntelligence?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#BusinessIntelligence</a> and <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Bitcoin</a>. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$MSTR</a> <a href="https://t.co/h40yyrgEb0" target="_blank" rel="">https://t.co/h40yyrgEb0</a></p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1785037831175630938?ref_src=twsrc%5Etfw" target="_blank" rel="">April 29, 2024</a>
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<p>In <a href="https://www.microstrategy.com/press/microstrategy-announces-first-quarter-2024-financial-results-now-holds-214-400-btc_04-29-2024" target="_blank" rel="">an X post</a> on Apr. 29, Michael Saylor, former managing director of MicroStrategy, said the company boosted its holdings by 122 BTC in April, propelling its holdings by 25,250 BTC since the end of Q4 2023. According to the company’s <a href="https://assets.contentstack.io/v3/assets/bltb564490bc5201f31/blt08df5350e9b7445d/662ffa5d81c88450bb38297d/microstrategy-q1-2024-earnings-presentation.pdf" target="_blank" rel="">quarterly report</a>, the latest acquisition resulted in an average purchase price of $35,180 per BTC.</p> 
<p> You might also like: <a href="https://crypto.news/bitcoin-microstrategy-ownership-total-supply/" rel=""> MicroStrategy now owns over 1% of Bitcoin’s total supply </a> </p> 
<p>MicroStrategy CEO Phong Le said the Virginia-headquartered company “is committed to the continued development of the Bitcoin network,” adding that in the first quarter, MicroStartegy’s subscription services revenues and subscription billings “both grew again at double-digit growth rates.”</p> 
<p>Despite witnessing a robust 22% year-over-year surge in subscription services revenues, totaling $23 million, the overall revenues for Q1 experienced a slight decline, reaching $115.2 million, a 5.5% decrease compared to Q1 2023. Meanwhile, operating expenses surged to $288.9 million in Q1, marking a 152.8% increase compared to the same period last year.</p> 
<p>Following the announcement, the share price of MicroStrategy (MSTR) saw a modest uptick of 0.8%, reaching $1,292, according to data from Google Finance. As of press time, Bitcoin is trading at around $63,250 as per data from CoinMarketCap.</p> 
<p> Read more: <a href="https://crypto.news/analyst-predicts-bitcoin-to-hit-150k-by-2025-uptick-in-microstrategy-stock/" rel=""> Analyst predicts Bitcoin to hit $150k by 2025, uptick in MicroStrategy stock </a> </p>

MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase

crypto.news

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