MicroStrategy, the publicly traded company with the largest holdings of Bitcoin (BTC), announced that they purchased an additional 850 BTC in January, bringing their total holdings to 190,000 BTC – valued at $8.1 billion.
In their Q4 2023 earnings report on February 6, the company’s CFO, Andrew Kang, revealed that they acquired 56,650 BTC throughout 2023 at an average price of $33,580.
Overall, MicroStrategy reported a net income of $89.1 million, compared to a loss of $249.7 million the previous year. According to the February 6 income report, the company’s revenue decreased by 6.1% to $124.5 million during the same period.
MicroStrategy’s CEO, Michael Saylor, stated:
“2024 marks the birth year of Bitcoin as an institutional-grade asset, in fact, it’s the first new asset class of the modern era.”
Saylor added: “The next 15 years will be a period of high growth, regulation, and management for Bitcoin, very different from the past 15 years.”
In December 2020, MicroStrategy became the first publicly traded company to purchase Bitcoin. Since then, the company’s stock price has increased by over 300%, while tech stocks like Microsoft and Google have risen by approximately 95% during the same period.