MicroStrategy is mainly known within the crypto world as the largest exchange-listed bitcoin (BTC) holder in the world. Data from Bitcoin Treasuries shows that it currently holds 132,500 BTC, which is worth approximately $3.1 billion at the current bitcoin price.
On December 28 shared Michael Saylor, former CEO, took to Twitter that the US business intelligence and software company increased its holdings by 2,500 BTC in the period between November 1 and Christmas. He also revealed that the total of 132,500 BTC was purchased for a total of $4.03 billion, bringing the average price to $30,397 per BTC.
Microstrategy continues to buy BTC
On February 2 published Microstrategy the quarterly results of the last quarter of 2022. This time the net loss was $249.7 million.
Recently, you could read in the Bitcoin news that the publicly traded company had sold 704 BTC on December 22 for approximately $11.8 million. It has deviated from its philosophy of not selling BTC, but this was for a premeditated reason. Indeed, this sale could benefit the company in terms of tax liabilities. The realized loss on this sale was $34 million.
For all of 2022, it had to post a paper loss of $1.3 billion by bitcoin holdings. A paper loss is also known as an accounting loss and is an unrealized loss.
The Chief Financial OfficerAndrew Kang, during the presentation of the quarterly results, indicated that despite the paper loss, the company has no plans to stop investing in BTC:
“We are considering making additional trades to take advantage of bitcoin price volatility or other market events consistent with our long-term bitcoin strategy.”
Microstrategy share soaring
Despite the software giant posting a loss, many long-term shareholders still have reason to be happy: the company’s shares have doubled since the turn of the year.
The price of Microstrategy (MSTR) is currently at $285.45, which is 96.8% higher than January 1. In the past five days, shares are up 11.83%.
Co-founder Saylor said during the presentation that the most important measure of the stock’s performance is the bitcoin price.