MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase

MicroStrategy’s Bitcoin holdings increased by 122 BTC in April, according to the company’s latest quarterly report.

MicroStrategy, the largest holder of Bitcoin among publicly traded companies, continues to purchase more BTC; because its latest quarterly report shows that the company injected another $7.8 million, bringing the total amount of its crypto assets to 214,400 BTC, worth approximately $13.5 billion.

In an April 29 According to the company’s quarterly report, the latest purchase resulted in an average purchase price of $35,180 per BTC.

MicroStrategy CEO Phong Le said the Virginia-based 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 strong 22% year-on-year growth in subscription services revenues to a total of $23 million, overall revenues in the first quarter experienced a slight decline, reaching $115.2 million, down 5.5% compared to the first quarter of 2023. Meanwhile, operating expenses were $288.9 million in the first quarter, up 152.8% compared to the same period last year.

Following the announcement, MicroStrategy’s (MSTR) share price rose a modest 0.8% to $1,292, according to data from Google Finance. According to CoinMarketCap data, Bitcoin is trading around $63,250 as of the moment the news was published.