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MicroStrategy Increased its BTC Holdings for 11 Consecutive Quarters

MicroStrategy has purchased bitcoin each quarter since August 2020.The company is the largest corporate holder of the primary cryptocurrency, owning 140,000 BTC. It accumulated its stash at an average price of $29,803, meaning it currently sits on a minor unrealized loss.

MicroStrategy acquired additional 7,500 BTC since the beginning of the year, rounding up the total holdings to 140,000 BTC.

The increase of bitcoin’s value over the past several months has financially benefited MicroStrategy, allowing it to turn a profit during Q1. It registered a net income of $461 million, whereas the software business revenue exceeded the estimations. The development is partly due to tax benefits resulting from the firm’s BTC holdings. The company also used bitcoin’s price surge to repay its $205 million loan to the failed Silvergate Bank at a 22% discount.

Bitcoin Bitcoin $94,554.39
-2.66%
MicroStrategy BTC
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