- MicroStrategy published its financial report for the fourth quarter of 2023.
- At the same time, the company’s former CEO Michael Saylor shared data on the company’s investments in Bitcoin.
- In January, the company purchased an additional 850 BTC. As a result, MicroStrategy’s unrealized profit reached $2.2 billion.
In January 2024, MicroStrategy purchased 850 BTC for $37.2 million. This was stated by the founder of the company, Michael Saylor.
After this purchase, MicroStrategy’s Bitcoin reserve reached 190,000 BTC. The average cost of one coin is $31,224 as of February 5, 2024.
This means the company’s portfolio is valued at $5.9 billion.. At the time of writing, Bitcoin is trading at $42,954, according to TradingView. In this case, the cost of MicroStrategy’s investment will already be $8.1 billion, and the unrealized profit will be $2.2 billion.
Bitcoin BTCAt the same time, the company published a financial report for the fourth quarter of 2023. During this period alone, the firm purchased an additional 31,755 BTC, according to documents. The organization emphasized that this is the largest quarterly investment in Bitcoin over the past three years.
The company’s revenue amounted to $124.5 million, which is 6% less compared to the fourth quarter of 2022. At the same time, MicroStrategy significantly reduced operating costs – by 53.6%. This allowed the company to close the quarter with a profit.
We previously covered press reports that Mile Saylor was selling MicroStrategy shares on the eve of the approval of spot Bitcoin ETFs in the US. Let us remind you that this happened on January 10, 2024.