Microstrategy Surpasses 190,000 BTC Holdings, Largest Quarterly Increase

Microstrategy, listed on Nasdaq, has actively increased its cryptocurrency holdings to 190,000 bitcoins, acquiring an additional 31,755 coins since the third quarter’s end.

The company proudly declares itself as the “world’s first Bitcoin development company” with a distinct value proposition, distinguishing it even from spot bitcoin exchange-traded funds (ETFs). Microstrategy’s Q4 2023 earnings report revealed the purchase of 850 BTC in January, totaling 190,000 BTC. The carrying value of Microstrategy’s digital assets as of December 31, 2023, was $3.626 billion. Emphasizing its commitment, Microstrategy sees itself as a publicly-traded operating company actively contributing to Bitcoin’s development through financial market activities, advocacy, and technology innovation.

Andrew Kang, Microstrategy’s CFO, highlighted the company’s largest quarterly bitcoin holding increase in the last three years and the 13th consecutive quarter of adding more bitcoin to its balance sheet. The company’s unique position allows it to use cashflows and proceeds for bitcoin accumulation, serving as its primary treasury reserve asset. In addition to its Bitcoin strategy, Microstrategy is also focusing on technology innovation, leveraging its software development capabilities to create bitcoin applications. This combined approach is seen as a unique opportunity for value creation.

Clever Robot News Desk 9^th February 2024