Microstrategy continued to invest in Bitcoin over the previous quarter, as indicated by the company’s financial results on May 1.

Phong Le, MicroStrategy President and CEO, said

“The conviction in our bitcoin strategy remains strong as the digital asset environment continues to mature.”

Microstrategy said that, in the first quarter of 2023, it purchased 7,500 BTC to add to its balance sheet. That amount is worth $209 million at current market rates.

This purchase increased Microstrategy’s total Bitcoin holdings to 140,000 BTC. Though the current market value of that total is $3.9 billion, Microstrategy noted that the amount’s carrying value is $2.0 billion due to cumulative impairment losses.

(by Mike Dalton)