MicroStrategy has announced on Oct 28 that the company purchased an additional 8,957 BTC to its holdings in Q3, bringing its total BTC stash to a valuation of around $7 billion.
“MicroStrategy delivered strong third quarter results that demonstrated successful execution on both our operational and digital asset strategies. Overall demand for the MicroStrategy platform continued to increase, and we are pleased with the growing interest and adoption of our cloud solutions,” said Michael J. Saylor, CEO, MicroStrategy.
“We also significantly expanded our bitcoin holdings in the quarter, adding nearly 9,000 bitcoins to our holdings after successfully raising capital in the quarter through our at-the-market equity offering. Today, MicroStrategy is the world’s largest publicly traded corporate owner of bitcoin with over 114,000 bitcoins. We will continue to evaluate opportunities to raise additional capital to execute on our bitcoin strategy.”
The company has increased its BTC holdings by 198% since the same period last year, and as of Sept. 30 the total stood at 114,042 BTC with an estimated average purchasing price of $27,713 per coin, or a total spend of $3.16 billion.
On paper, the software firm posted a carrying value of $2.406 billion for its BTC holdings at an impairment loss of $754.7 million since the acquisition, however this is a paper loss.
MicroStrategy reported $128 million worth of total revenue for the quarter, beating the Zacks Consensus Estimate by 0.39% and marking a 0.5% increase compared to MicroStrategy’s Q3 results from 2020.
Read more:
- MicroStrategy Purchased A Further 5,050 Bitcoin, Taking Its Total Holdings To 114,042 BTC
- MicroStrategy Purchased An Additional 3,907 BTC For About $177 Million During The Third Quarter Period