MicroStrategy Bitcoin (BTC) Holdings Hits $13.6 Billion after Latest Purchase

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Updated: Apr 30, 2024, 08:18 GMT+00:00

Key Points:

MicroStrategy’s Bitcoin holdings increased by 122 BTC in April, according to the company’s latest quarterly financial report
Current data shows that the Michael Saylor-led firm now holds a total of 214,245 BTC (~$13.6 billion).
Microstrategy's MSTR stock price jumped 1% since the announcement of its latest BTC purchase

MicroStrategy Announces Another $7.8 Million BTC Purchase

MicroStrategy, the largest Bitcoin 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.

In an X post 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 quarterly report, the latest acquisition resulted in an average purchase price of $35,180 per BTC.

Microstrategy Bitcoin (BTC) balances | April 30, 2024 | Source: SaylorTracker

The latest purchase brings Microstrategy’s total Bitcoin holdings to 214,245 BTC worth approximately $13.6 billion at current prices.

MicroStrategy CEO Phong Le further emphasized that 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.”

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.

Microstrategy (MSTR) Price action | April 30 2024 | FXEmpire

Microstrategy (MSTR) Price action, April 30 2024 | Source: FXEmpire

Following the announcement, the share price of MicroStrategy (MSTR) saw a modest uptick of 0.8%, reaching $1,292, according to FXEmpire data. Meanwhile, at press time, Bitcoin (BTC) is trading at around $63,250 as per data from CoinMarketCap.

About the Author

Ibrahim Ajibadeauthor

Ibrahim Ajibade Ademolawa is a seasoned research analyst with a background in Commercial Banking and Web3 startups, specializing in DeFi and TradFi analysis. He holds a B.A. in Economics and is pursuing an MSc in Blockchain.