MicroStrategy increases its investment in BTC by $150 million

The total number of bitcoins on the company’s balance sheet has reached 138 955

27.03.2023 - 16:00

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3 min

What’s new? Between February 16 and March 23, 2023, analytics software company MicroStrategy bought an additional 6455 BTC worth about $150 million. The average purchase price per coin was $23 238. This is evidenced by a Form 8-K filed with the US Securities and Exchange Commission (SEC).

The SEC’s documentation

What else is known? As of March 23, MicroStrategy had 138 955 BTC in its possession. The company spent about $4,14 billion to buy them, and the average price per coin was $29 817.

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In this, MicroStrategy reported a net loss of $249,7 million in Q4 2022. The company attributed the loss to a $197,6 million drop in the value of its existing assets as a result of the decline of the bitcoin rate.

At the same time, the company sold part of BTC for the first time in its history (704 coins worth $900 000). That said, in July 2022 Michael Saylor, while still the head of MicroStrategy, hinted that he did not intend to sell BTC, despite the volatility of the market. Less than a month later he stepped down, remaining as chairman of the board of directors.

In late 2022, George Soros’ fund bought call and put options on 50 000 shares of MicroStrategy, and continued to hold $200 million in MSTR preferred shares.

As of March 27, 15:40 UTC, bitcoin is trading at $26 921, having decreased by 3.,9% per day, according to Binance. MicroStrategy shares, under the ticker MSTR, are trading on the US Nasdaq stock exchange at $253,28, having lost 1,31% in price, according to Investing.com.

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