{"id":19219,"date":"2024-04-30T10:45:08","date_gmt":"2024-04-30T10:45:08","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=19219"},"modified":"2024-04-30T09:48:24","modified_gmt":"2024-04-30T09:48:24","slug":"microstrategy-holds-13-6-billion-dollar-worth-of-bitcoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/microstrategy-holds-13-6-billion-dollar-worth-of-bitcoin\/","title":{"rendered":"MicroStrategy Holds 13.6 Billion Dollar Worth of Bitcoin"},"content":{"rendered":"

MicroStrategy<\/strong> has significantly increased its bitcoin holdings in the first quarter, acquiring an additional 25,250 bitcoin (BTC) with proceeds totaling over $1.5 billion. This brings the company’s total bitcoin holdings to 214,400 BTC, valued at approximately $13.6 billion. However, the company reported a net operating loss of $53.1 million for the first quarter, primarily due to a digital asset impairment charge of $191.6 million.<\/p>\n

MicroStrategy<\/a>‘s corporate strategy includes acquiring and holding bitcoin, with its total holdings now representing nearly 1% of the total circulating supply of 19.7 million bitcoins. Despite achieving double-digit subscription services revenue growth in the first quarter through its transition to cloud-based services, the company faced a net operating loss due to the impairment charge related to digital assets.<\/p>\n

Although MicroStrategy<\/a> could have reported a significant profit by adopting the new digital asset fair value accounting standard, it chose not to do so. Canaccord has adjusted its price target for MicroStrategy to $1,590 from $1,810, citing the continued appreciation of BTC and a revaluation of the software business. The stock experienced a 2.5% decline to $1,261 in after-hours trading.<\/p>\n

Canaccord’s analysts, led by Joseph Vafi, emphasized that the current premium of MicroStrategy’s equity value to its bitcoin holdings remains significant at 71%. They highlighted this premium contraction as a potential risk factor, despite recognizing the scarcity value of MicroStrategy’s bitcoin holdings as one of the primary ways for equity investors to gain exposure to the digital asset.<\/p>\n

Moreover, Canaccord pointed out the positive setup for bitcoin, citing recent approvals of U.S. bitcoin spot exchange-traded funds (ETFs) by heavyweight asset managers and strong adoption trends, along with the recent bitcoin halving event. These factors contribute to a bullish outlook for bitcoin, which could indirectly benefit MicroStrategy’s position in the market.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

MicroStrategy has significantly increased its bitcoin holdings in the first quarter, acquiring an additional 25,250 bitcoin (BTC) with proceeds totaling over $1.5 billion. This brings the company’s total bitcoin holdings to 214,400 BTC, valued at approximately $13.6 billion. However, the company reported a net operating loss of $53.1 million for the first quarter, primarily due<\/p>\n","protected":false},"author":6,"featured_media":13402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,1766,5752,1494],"class_list":["post-19219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-bitcoin-btc","tag-microstrategu-bitcoin","tag-microstrategy"],"yoast_head":"\nMicroStrategy Holds 13.6 Billion Dollar Worth of Bitcoin - Coin Engineer<\/title>\n<meta name=\"description\" content=\"MicroStrategy has significantly increased its bitcoin holdings in the first quarter, acquiring an additional 25,250 BTC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/microstrategy-holds-13-6-billion-dollar-worth-of-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MicroStrategy Holds 13.6 Billion Dollar Worth of Bitcoin - 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