MicroStrategy Acquired an Additional 155 Bitcoin Since End of Q3

MicroStrategy Acquired an Additional 155 Bitcoin Since End of Q3

In its latest earnings report, MicroStrategy has revealed that it acquired an additional 155 bitcoins during October, bringing its total bitcoin holdings to 158,400. The software developer, co-founded by Michael Saylor, stated that the bitcoins were acquired at a total cost of $4.69 billion, or $29,586 per bitcoin. However, the company also reported an impairment loss of $33.6 million on its digital asset holdings during the third quarter. Despite this, Saylor remains optimistic about the future of the crypto industry, mentioning increasing regulatory clarity as a positive factor for institutional investors. With these recent acquisitions, MicroStrategy continues to demonstrate its commitment to Bitcoin as a long-term investment.

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MicroStrategy Acquired an Additional 155 Bitcoin Since End of Q3

MicroStrategy, the software developer co-founded by Michael Saylor, has announced that it acquired an additional 155 bitcoins in the month of October, bringing its total acquisitions since the beginning of the third quarter to 6,607 bitcoins. The company currently holds a total of 158,400 bitcoins, which were acquired at a total cost of $4.69 billion, or roughly $29,586 per bitcoin.

Background Information

MicroStrategy’s third-quarter earnings report

MicroStrategy’s announcement of its additional bitcoin acquisition came alongside its third-quarter earnings report. While the company reported strong financial performance, one notable aspect of the report was the disclosure of an impairment loss on its digital asset holdings.

Impairment loss on digital asset holdings

MicroStrategy reported an impairment loss of $33.6 million on its digital asset holdings during the third quarter. This loss brings the total cumulative impairment losses to date to $2.23 billion.

Total bitcoin holdings and acquisition cost

As of the end of October, MicroStrategy holds a total of 158,400 bitcoins. These bitcoins were acquired at a total cost of $4.69 billion. The company acquired these bitcoins over the course of the third quarter, with the most recent acquisition of 155 bitcoins in October.

Regulatory clarity in the crypto industry

MicroStrategy’s CEO, Michael Saylor, commented on the increasing regulatory clarity in the crypto industry during the company’s earnings call. Saylor believes that this clarity is creating more comfort for institutional investors to participate in the crypto market. He also expects positive regulatory initiatives in the coming year that will provide further clarity and consistency to the industry.

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Details of MicroStrategy’s Bitcoin Acquisition

Purchase of 155 bitcoins in October

MicroStrategy acquired an additional 155 bitcoins during the month of October. This brings the total acquisitions since the beginning of the third quarter to 6,607 bitcoins.

Total acquired since the beginning of Q3

MicroStrategy’s total bitcoin acquisitions since the beginning of the third quarter now stand at 6,607 bitcoins.

Cumulative impairment losses

MicroStrategy reported a total cumulative impairment loss of $2.23 billion on its digital asset holdings to date.

Average carrying amount per bitcoin

The average carrying amount per bitcoin for MicroStrategy’s holdings is roughly $15,491. However, this figure does not reflect the current market value of the company’s bitcoin holdings, which was $27,030 as of September 30th, and is currently just under $35,000.

Impairment Losses on Digital Asset Holdings

Impairment loss on digital asset holdings in Q3

MicroStrategy reported an impairment loss of $33.6 million on its digital asset holdings during the third quarter. This loss contributed to the total cumulative impairment losses of $2.23 billion.

Cumulative impairment losses to date

MicroStrategy’s cumulative impairment losses on its digital asset holdings now stand at $2.23 billion.

MicroStrategy’s Bitcoin Holdings

Total number of bitcoins owned

MicroStrategy currently owns a total of 158,400 bitcoins.

Total cost of bitcoin acquisition

The total cost of MicroStrategy’s bitcoin acquisitions is $4.69 billion.

Market value of bitcoin holdings

The market value of MicroStrategy’s bitcoin holdings was $27,030 as of September 30th, and is currently just under $35,000.

Comments from Michael Saylor

Increasing regulatory clarity

MicroStrategy’s CEO, Michael Saylor, believes that the increasing regulatory clarity in the crypto industry is creating more comfort for institutional investors to participate in the market. He sees this as a positive development that will attract more institutional investment in the coming years.

Comfort for institutional investors

Saylor’s comments on regulatory clarity reflect a broader sentiment in the industry. As regulations become clearer, institutional investors are gaining more confidence in the crypto market and are more willing to allocate funds to digital assets like bitcoin.

Expectation of positive regulatory initiatives

Saylor expects that positive regulatory initiatives will be introduced in the coming year, which will provide further clarity and consistency to the crypto industry. These initiatives are expected to benefit both institutional investors and the broader market.

Stock Performance

Mid-morning stock price on Thursday

MicroStrategy’s stock price rose 2.3% to $436.37 mid-morning on Thursday.

Change in stock price

MicroStrategy’s stock price increase reflects positive investor sentiment following the announcement of the company’s additional bitcoin acquisition.

Conclusion

MicroStrategy’s acquisition of an additional 155 bitcoins since the end of the third quarter reflects the company’s continued belief in the long-term value of bitcoin. The company’s total bitcoin holdings now stand at 158,400 bitcoins, acquired at a total cost of $4.69 billion. Despite reporting an impairment loss on its digital asset holdings, MicroStrategy remains optimistic about the future of the crypto industry, citing increasing regulatory clarity and a growing comfort among institutional investors. The company’s stock price has responded positively to the news, reflecting investor confidence in MicroStrategy’s bitcoin strategy.

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