MicroStrategy Strengthens its Bitcoin Holdings with $805 Million!

MicroStrategy recently announced its financial results for the second quarter of 2024, revealing a significant increase in its bitcoin holdings. The company now holds 226,500 BTC, acquired at a total cost of $8.3 billion, or an average price of $36,821 per bitcoin.

MicroStrategy reaches 226,500 bitcoin after a successful Q2 2024!

Since the beginning of the second quarter, MicroStrategy has added 12,222 BTC to its portfolio! For an amount of $805.2 million, or an average price of $65,882 per bitcoin. This massive acquisition reflects the company’s ongoing strategy to strengthen its position in the crypto ecosystem.

In addition to this increase in its bitcoin holdings, MicroStrategy has introduced a new key performance metric (KPI) called “BTC Yield”. This metric measures the company’s bitcoin yield, which has reached 12.2% since the beginning of the year. MicroStrategy’s goal is to maintain an annual yield of 4 to 8% over the next three years.

A promising future for MicroStrategy

Despite these impressive results, MicroStrategy recorded a net loss of $102.6 million for the second quarter of 2024. Mainly due to significant amortization charges related to its digital assets. However, the company remains optimistic about its bitcoin development strategy and the growing adoption of its cloud-based business intelligence (BI) and artificial intelligence (AI) software.

MicroStrategy’s President and CEO, Phong Le, expressed his optimism about the company’s future. He highlights the increasing understanding of bitcoin and growing support from politicians and institutions. Furthermore, the company managed to raise an additional $800 million through a 2.25% convertible note issuance maturing in 2032 and announced a 10-for-1 stock split.

The financial results for the second quarter of 2024 for MicroStrategy show a significant increase in its BTC holdings and the introduction of a new bitcoin yield metric. Despite a net loss, the company remains committed to pursuing its bitcoin development strategy and strengthening its position in the crypto market.