Hassan Maishera
MicroStrategy’s BTC holdings surpass $7 billion
Leading software development company MicroStrategy has revealed that it has added 9,000 bitcoins to its balance sheet in the previous quarter. The company revealed this in its third-quarter earnings report.
In the company’s report, CEO Michael Saylor said, “We also significantly expanded our bitcoin holdings in the quarter, adding nearly 9,000 bitcoins to our holdings after successfully raising capital in the quarter through our at-the-market equity offering. Today, MicroStrategy is the world’s largest publicly traded corporate owner of bitcoin, with over 114,000 bitcoins. We will continue to evaluate opportunities to raise additional capital to execute on our bitcoin strategy.”
MicroStrategy currently holds more than 114,000 bitcoins in its balance sheet, making it the world’s largest publicly traded corporate owner of bitcoin. The company now holds more than $7 billion worth of bitcoins as the leading cryptocurrency is trading above the $61k level at the time of writing this report.
The software firm has increased its Bitcoin holdings by 198% since the same period 2020. As of September 30, MicroStrategy’s Bitcoin holdings stand at 114,042 BTC, with an estimated average purchasing price of $27,713 per coin, or a total spend of $3.16 billion. Overall, the company has made more than 100% profit on its Bitcoin holdings over the past year.
The leading cryptocurrency has been performing excellently since the start of the fourth quarter. In the second and third quarters of 2021, BTC’s price dipped by roughly 50% on numerous occasions. However, MicroStrategy continues to increase its exposure to the cryptocurrency.
Bitcoin went on to reach a new all-time high above $67,200 last week. With BTC currently trading above $60k, MicroStrategy would record a profit of more than $3.5 billion if it were to sell its Bitcoin holdings.
