MicroStrategy Continues to Accumulate Bitcoin, Acquiring 155 BTC in October
MicroStrategy, led by former CEO and co-founder Michael Saylor, has continued its aggressive accumulation of Bitcoin. According to Saylor, the company acquired an additional 155 BTC in October, bringing its total holdings to 158,400 BTC. The purchase was made for $5.3 million.
Company’s Q3 Financial Results Confirm BTC Holdings
In a post on his X platform, Saylor shared the news of MicroStrategy’s latest Bitcoin purchase while discussing the company’s third-quarter financial results. The official release also confirmed the company’s commitment to stacking up BTC and provided a detailed analysis of its holdings.
Profitable Bitcoin Investment Strategy
The figures indicate that MicroStrategy’s Bitcoin investment strategy is currently profitable. The company holds 158,400 BTC, which it acquired at a total cost of $4.69 billion. This suggests that the value of its Bitcoin holdings has increased since the time of purchase.
BTC Venture Contributes to Company’s Revenue Growth
MicroStrategy recorded a 3% increase in total revenue year-on-year, which CEO Phong Le attributes in part to the company’s Bitcoin venture. He believes that MicroStrategy is well-positioned to benefit from both the growth in Bitcoin and its business intelligence (BI) sector.
MSTR Stocks Perform Well Due to Bitcoin Integration
The company’s “Bitcoin Strategy” has positively impacted its stocks, with MicroStrategy’s MSTR stocks experiencing a 242% increase since incorporating Bitcoin into its balance sheets. This performance surpasses major stocks like Apple and Google, as well as outperforms Bitcoin itself.
Saylor Remains a Strong Advocate for Bitcoin
On a personal level, Saylor continues to advocate for Bitcoin. He recently shared a post on X urging his followers to get bullish on the cryptocurrency, demonstrating his ongoing support for the flagship digital asset.
Hot Take: MicroStrategy’s Aggressive Bitcoin Accumulation Pays Off
MicroStrategy’s relentless accumulation of Bitcoin has proven to be a successful investment strategy. With its latest purchase of 155 BTC in October, the company now holds a total of 158,400 BTC. This aggressive approach has not only resulted in profitable returns but has also positively impacted MicroStrategy’s stocks, outperforming major stocks and even Bitcoin itself. As the company continues to stack up BTC, its commitment to the cryptocurrency remains strong, positioning MicroStrategy for continued success in both the Bitcoin market and its business ventures.
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