MicroStrategy added almost 9,000 Bitcoin to its holdings in Q3, bringing its total BTC stash to a valuation of around $7 billion. The company highlighted the purchase of 8,957 BTC in its Q3 report on Wednesday with the firm’s perma-bull CEO, Michael Saylor. “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,” the report noted.
MicroStrategy has increased its Bitcoin holdings by 198% in one year.
MicroStrategy has increased its Bitcoin holdings by 198% since the same period last year, and as of Sept. 30, the total holdings of the firm stood at 114,042 BTC with an estimated average purchasing price of $27,713 per coin, or a total spend of $3.16 billion. On paper, MicroStraThe value of MicroStrategy’s holdings equates to around $6.9 billion.
The value of MicroStrategy’s holdings equates to around $6.9 billion.
As BTC is priced at around $60,600 at the time of writing, the value of MicroStrategy’s holdings equates to around $6.9 billion, suggesting that the software firm would make nearly $3.75 billion in profit if it sold today. MicroStrategy provides business intelligence software, mobile app software, and cloud-based solutions, and the firm pulls in revenue via streams such as product licensing and subscription services. The firm reported $128 million worth of total revenue for the quarter, beating the Zacks Consensus Estimate by 0.39% and marking a 0.5% increase compared to MicroStrategy’s Q3 results from 2020. While MicroStrategy’s revenue squeaked past estimates, the firm posted $1.86 per share earnings compared to the forecast of $1.12 per share.
