MicroStrategy Bought 850 BTC in January, Holds 190K BTC

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Microstrategy, an American company known for being the largest corporate holder of Bitcoin (BTC), the world’s leading digital asset, has once again purchased a significant amount of digital assets, bringing its total holding to 190,000 BTC. 

According to the announcement made by the former CEO and Executive Chairman of MicroStrategy, Michael Saylor, the company purchased an additional 850 BTC in the month of January. 

As earlier reported by TheCoinRise, the company, which provides business intelligence, mobile software, and cloud-based services, remains committed to investing in the digital asset sector and is ready to sell stocks to purchase additional BTC.

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MicroStrategy Bought 850 BTC in January

In a post on social media platform X, Saylor confirmed that his company had acquired 850 BTC, and now MicroStrategy holds 190,000 BTC. Further, in an earnings call on Tuesday, the company’s chief financial officer, Andrew Kang, highlighted its commitment to Bitcoin. 

Kang noted that the American company acquired 56,650 BTC throughout 2023 at an average price of $33,580. Further, back in December, the company and its subsidiaries purchased 14,620 BTC for $615.7 million in cash from November 20 to December 26, 2023.

Net Income of $89.1M

MicroStrategy also posted a net income of 89.1 million while suffering from losses worth $249.7 million in the year prior. Notably, the firm’s revenue decreased 6.1% to $124.5 million within the same time frame, according to the earnings statement.

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The company has witnessed significant gains over the past few months after Bitcoin broke above the $30,000 price level in early 2023. The digital asset sector celebrated the fact while Saylor stepped down as CEO of the company he founded. 

2024 is a Good Year for Bitcoin

Saylor stated that 2024 will be the year when Bitcoin adoption skyrockets, while adding that the performance shown by BTC in 2023 could be attributed to investors recognizing the broader theme of a “digital transformation” of assets.

“2024 is the year of the birth of Bitcoin as an institutional-grade asset class, in fact, it’s the first new asset class of the modern era,” said Saylor while noting:

“The next 15 years will be a regulated, institutional, high growth period for Bitcoin, very different from the last 15 years.”

MicroStrategy Continues to Support BTC After Spot ETF Approval

After the approval of eleven spot Bitcoin exchange-traded funds (ETFs) by the SEC, MicroStrategy stated that it would continue to support the leading digital asset and add more BTC to its balance sheet.

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