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

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
CEO
Phong
Le
said
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.

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