Update: MicroStrategy Increases Bitcoin Portfolio to 214,400 BTC
According to its latest quarterly report, MicroStrategy expanded its Bitcoin portfolio by 122 BTC in April, further solidifying its position as the public company with the largest Bitcoin holdings.
MicroStrategy has continued its aggressive acquisition strategy, investing an additional $7.8 million into Bitcoin, bringing its total holdings to 214,400 BTC, with an estimated value of approximately $13.5 billion. Michael Saylor, the former managing director of MicroStrategy, revealed in an X post on April 29 that this recent purchase is part of a larger accumulation of 25,250 BTC since the close of Q4 2023, with the latest batch bought at an average price of $35,180 per BTC.
Phong Le, CEO of the Virginia-based MicroStrategy, emphasized the company’s dedication to advancing the Bitcoin network. He highlighted that MicroStrategy’s subscription services and billing revenues continued to climb, registering double-digit growth rates in the first quarter.
Despite a 22% year-over-year increase in subscription services revenue, totaling $23 million, the company’s overall Q1 revenue dipped by 5.5% to $115.2 million compared to the first quarter of the previous year. Concurrently, operating expenses in Q1 soared by 152.8% to $288.9 million compared to the same quarter last year.
Following these disclosures, MicroStrategy’s stock (MSTR) experienced a slight increase of 0.8%, reaching $1,292 per share according to Google Finance. At the time of reporting, Bitcoin’s price stands at about $63,250.
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