MicroStrategy’s Bitcoin holdings increased by 122 BTC in April, according to the company’s latest quarterly report. The largest Bitcoin holder among public companies, MicroStrategy continues to buy more BTC, injecting another $7.8 million in April. This pushed the total amount of their crypto holdings to 214,400 BTC, valued at around $13.5 billion.

In April, MicroStrategy acquired an additional 122 BTC for $7.8 million, bringing their total holdings to 214,400 BTC. This news was shared by Michael Saylor, former managing director of MicroStrategy, in a recent post. The company has increased its holdings by 25,250 BTC since the end of Q4 2023. The average purchase price per BTC from the latest acquisition was $35,180.

MicroStrategy CEO Phong Le emphasized the company’s commitment to the development of the Bitcoin network. In the first quarter, MicroStrategy saw double-digit growth in subscription services revenues and subscription billings. Despite a slight decline in overall revenues for Q1, the company experienced a robust 22% year-over-year surge in subscription services revenues, totaling $23 million. 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. As of press time, Bitcoin is trading at around $63,250 according to data from CoinMarketCap.

Analysts predict Bitcoin to hit $150k by 2025, signaling a positive outlook for MicroStrategy stock.

Post Views: 3