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 MicroStrategy, the largest publicly traded holder of Bitcoin, bought another $37 million worth of BTC in January to bring its total holdings to $8.1 billion.
 The company said in its its fourth quarter earnings call on Feb. 6 that it acquired another 850 BTC in January and now holds a total of 190,000 Bitcoin.
 “2024 is the year of the birth of Bitcoin as an institutional-grade asset class,” said executive chairman Michael Saylor in the call. “It’s the first new asset class of the modern era. The next 15 years will be a regulated, institutional, high growth period for Bitcoin, very different from the last 15 years.”
 <h2 id="span-style-font-weight-400-microstrategy-purchased-more-than-50-000-btc-in-2023-span">MicroStrategy Purchased More Than 50,000 BTC In 2023</h2>
 MicroStrategy’s chief financial officer, Andrew Kang, also said the company bought a total of 56,650 BTC in 2023 at an average price of $33,580.
 <img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="MicroStrategy CEO Michael Saylor Calls for Crypto Regulation" data-lazy-src="https://cdn.thebittimes.com/images/2024/02/07/d9f4483951c0f3b6155e2be1de069041.webp">
 <noscript><img decoding="async" src="https://cdn.thebittimes.com/images/2024/02/07/d9f4483951c0f3b6155e2be1de069041.webp" alt="MicroStrategy CEO Michael Saylor Calls for Crypto Regulation">
 </noscript>
 <h2 id="span-style-font-weight-400-microstrategy-posted-net-income-of-89-1-million-span">MicroStrategy Posted Net Income Of $89.1 Million</h2>
 The company also posted a net income of $89.1 million last year, compared to a $249.7 million loss recorded in 2022. Saylor attributed the 2023 performance to investors recognizing the broader theme of a “digital transformation” of assets.
 Saylor expects the allocation in BTC to continue to pay off following the introduction of spot Bitcoin ETFs (exchange-traded funds) in the U.S. This is a “catalytic moment” in transitioning BTC from a medium of exchange to a store of value, he said.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 #Bitcoin is Timeless. pic.twitter.com/Y8ZXXg7hhd
 — Michael Saylor⚡️ (@saylor) February 6, 2024
 </blockquote>
 
 “We don’t need to address any of the currency criticisms anymore,” he added. “Simply as a store of value, there’s no reason Bitcoin can’t continue to outperform and 100X from where it is right now.”
 MicroStrategy became the first publicly traded company to purchase Bitcoin as a strategic investment in December 2020. Since then, the company’s share price has climbed more than 300%, allowing it to outperform major tech stocks such as Microsoft and Google, which saw gains of slightly less than 100% during the same period.
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 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/microstrategy-buys-37-million-more-bitcoin-bringing-total-to-8-1-billion-as-michael-saylor-says-btc-is-now-institutional-grade-asset-tbt79151.html">https://thebittimes.com/microstrategy-buys-37-million-more-bitcoin-bringing-total-to-8-1-billion-as-michael-saylor-says-btc-is-now-institutional-grade-asset-tbt79151.html</a>
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MicroStrategy Buys $37 Million More Bitcoin, Bringing Total To $8.1 Billion, As Michael Saylor Says BTC Is Now ”Institutional-Grade Asset”

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