MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase

In an X post on Apr. 29, Michael Saylor, former managing director of MicroStrategy, said the company boosted its holdings by 122 BTC in April, propelling its holdings by 25,250 BTC since the end of Q4 2023. According to the company’s quarterly report, the latest acquisition resulted in an average purchase price of $35,180 per BTC.

MicroStrategy CEO Phong Le said the Virginia-headquartered company “is committed to the continued development of the Bitcoin network,” adding that in the first quarter, MicroStartegy’s subscription services revenues and subscription billings “both grew again at double-digit growth rates.”

Despite witnessing a robust 22% year-over-year surge in subscription services revenues, totaling $23 million, the overall revenues for Q1 experienced a slight decline, reaching $115.2 million, a 5.5% decrease compared to Q1 2023. Meanwhile, operating expenses surged to $288.9 million in Q1, marking a 152.8% increase compared to the same period last year.

Following the announcement, the share price of MicroStrategy (MSTR) saw a modest uptick of 0.8%, reaching $1,292, according to data from Google Finance. As of press time, Bitcoin is trading at around $63,250 as per data from CoinMarketCap.