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In January 2024, MicroStrategy added 850 BTC to its portfolio

Bitcoin: In January 2024, MicroStrategy added 850 BTC to its portfolio

In January 2024, MicroStrategy made a new investment in bitcoin: founder Michael Saylor announced the purchase of 850 BTC worth $37.2 million.

This acquisition increased MicroStrategy's bitcoin reserve to 190,000 BTC. As of 5 February 2024, the average purchase price per coin is $31,224.

This purchase has led to MicroStrategy's portfolio being valued at $5.9 billion as of today.

Bitcoin is currently trading at $43,100, and if this market value is taken into account, MicroStrategy's investment can already be valued at almost $8.2 billion, with unrealised gains of $2.3 billion.

In addition to this purchase, MicroStrategy published its financial report for the fourth quarter of 2023. It reveals that the company acquired another 31,755 BTC during this period, making it the largest quarterly investment in bitcoin in the last three years.

Despite a 6% decline in revenue compared to Q4 2022, which totalled $124.5 million, MicroStrategy managed to significantly reduce its operating expenses by 53.6%. This cost-cutting measure allowed the company to end the quarter with a profit.

It is worth noting that prior to the approval of the spot bitcoin #ETF in the US, #Michael Saylor, CEO of #MicroStrategy, sold some of his shares in the company.

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