MicroStrategy already accumulates 190,000 bitcoins

Key facts:
  • The company is sitting on unrealized profits on its bitcoin investment.

  • The co-founder of MicroStrategy values, above all, that bitcoin is a scarce asset.

The computer services company, MicroStrategy, maintains its strategy of recurring bitcoin (BTC) purchases. Today, February 6, 2024, it was announced that during the last month they acquired an additional 850 BTC and have already reached the figure of 190,000 BTC in their treasury.

Michael Saylor, co-founder of the company, detailed that 37.2 million dollars were disbursed to make the aforementioned purchase of bitcoin.

Furthermore, in the most recent financial statement, MicroStrategy shows that, In total, they have invested $5.93 billion in BTC, which is equivalent to about $31,224 per BTC. Taking into account that the price of bitcoin at the time of this publication is close to $43,000, it is evident that the investment is in unrealized profits.

Says Phong Le, President and CEO of MicroStrategy:

“2023 was a banner year for MicroStrategy as we strategically raised capital to significantly increase our bitcoin holdings and continued to innovate, including through the development and launch of MicroStrategy AI, our first AI-based business intelligence tool on the market. We achieved double-digit growth in subscription services revenue for both the fourth quarter and the full year, demonstrating our continued commitment to transitioning our business to the cloud. “We believe that the combination of our operating structure, bitcoin strategy and focus on technological innovation provides a unique value creation opportunity for our shareholders.”

Phong Le, President and CEO of MicroStrategy.

CriptoNoticias has reported the enormous optimism that Saylor has about bitcoin. The businessman is convinced that The next 10 years will be one of acceleration in terms of the adoption and price of bitcoin.

One of the characteristics that Saylor values ​​most about BTC is its scarcity (there will never be more than 21 million units). During the most recent edition of LaBitConf, which was held in Argentina, he explained:

«If we want to preserve our wealth, the investor has to convert his wealth into scarce, desirable, portable, durable and holdable assets. These are the five criteria that are very important. “They have to evaluate every asset against this.”

Michael Saylor, president of MicroStrategy

Obviously, in Saylor’s opinion, bitcoin meets those five criteria and that is why he decides that most of his company’s assets are stored in that digital currency.

Leave a Reply

Your email address will not be published. Required fields are marked *