MicroStrategy, clearly expressed its belief in Bitcoin, announcing how many Bitcoins it bought in total in 2020 and 2021. This investment strategy of the company attracted attention in both financial markets and the world of cryptocurrency.

MicroStrategy, at the end of 2020 bought a total of 16,130 BTC for an extra 593.3 million dollars at an average price of 36,785 dollars per bitcoin. This purchase of the company was part of its strategy to increase its Bitcoin assets.

According to a post by Michael Saylor, as of November 29, 2023, MicroStrategy holds 174,530 BTC that it bought for a total of 5.28 billion dollars at an average price of 30,252 dollars per Bitcoin. This means that the company has significantly expanded its cryptocurrency portfolio.

MicroStrategy’s Bitcoin investments play a significant role in terms of both the company and the general dynamics of the cryptocurrency world. Following MicroStrategy’s future steps and their effects in the cryptocurrency world can be quite important for investors.

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According to the results announced on November 1, the company founded by Michael Saylor bought 155 more Bitcoins in October since the third quarter, reaching 6,067 in total. Phong Le, CEO of MicroStrategy, stated the company will not abandon its Bitcoin strategy in the near future. Le said, “Our commitment to acquiring and retaining Bitcoin continues strong, especially with the promising developments of potential corporate adoption“.

The company’s revenue rose by 3% to $129.5 million during the quarter over the same period last year. However, this was not enough to save the company from losses, and MicroStrategy reported a net loss of $143.4 million. The company explained that the total net loss of $33.6 million was due to the decrease in digital asset value and income taxes. While the price of Bitcoin is recently rising again, BTC fell from $30,480 to $26,970, a 11.5% decrease in the third quarter (July 1 – September 30). MicroStrategy took advantage of this decrease and purchased 6,067 BTC at an average price of $27,590.

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The company reported a 16% year-on-year increase in software license sales and a 28% year-on-year growth in subscription services. The company expressed satisfaction with the integration of its business analytics products with artificial intelligence.

Le said, “We believe that MicroStrategy is well positioned to benefit from both tailwinds in Bitcoin and growth in our business intelligence business“. According to Google Finance, MicroStrategy’s stock price (MSTR) increased by 2.7% to $438 in after-hours trading.

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