MicroStrategy’s Bitcoin holdings swelled by an additional 122 BTC in April, as disclosed in the company’s latest quarterly report.
Renowned for being the largest Bitcoin holder among public companies, MicroStrategy continues its bullish streak in acquiring more BTC. The recent quarterly report reveals a substantial $7.8 million investment, propelling the aggregate crypto assets to a staggering 214,400 BTC, valued at approximately $13.5 billion.
In an announcement on April 29th, Michael Saylor, former managing director of MicroStrategy, highlighted the acquisition of 122 BTC during April alone, contributing to a cumulative increase of 25,250 BTC since the conclusion of Q4 2023. The report further specifies an average purchase price of $35,180 per BTC for the recent acquisition.
MicroStrategy CEO Phong Le emphasized the company’s unwavering dedication to fostering the growth of the Bitcoin network. Le underscored MicroStrategy’s notable performance in the subscription services domain, with both revenues and billings witnessing double-digit growth rates during the first quarter.
Despite registering a robust 22% year-over-year surge in subscription services revenues, totaling $23 million, overall revenues for Q1 experienced a slight dip, reaching $115.2 million—a marginal decrease of 5.5% compared to Q1 2023. Concurrently, operating expenses surged to $288.9 million in Q1, marking a substantial 152.8% increase from the corresponding period last year.
Following the disclosure, MicroStrategy’s share price (MSTR) observed a modest uptick of 0.8%, reaching $1,292, according to data sourced from Google Finance. At the same time, Bitcoin is currently trading around $63,250, as per data provided by CoinMarketCap.
