Michael Taylor and his company are back on cryptocurrency shopping. MicroStrategy is buying BTC again and has a total of 214,400 coins. The company's assets accumulated in Bitcoin are currently worth approximately USD 7.54 billion. Will the giant go shopping again next month?
MicroStrategy is buying Satoshi Nakamoto's coins again
Michael Saylor's company published its earnings report and new data on bitcoin holdings on Monday, April 29. Since the end of the fourth quarter of 2023, the company has purchased 25,250 BTC for $1.65 billion (at a price of $65,232/BTC). In his social media post, Saylor noted that the company acquired 122 BTC for USD 7.8 billion in April alone. An important piece of information from the report is that the company reported a 5% year-over-year decline in revenue of $115.2 million. As Chief Financial Officer Andrew Kang points out:
We have acquired an additional 25,250 bitcoins since the end of the fourth quarter, our 14th consecutive quarter in which we add more bitcoins to our balance sheet. We believe that the combination of our operating structure, bitcoin strategy and focus on technological innovation represents a unique opportunity to create value for our shareholders
Where is the bar for Michael Saylor's company's investment plans?
MicroStrategy is buying BTC again and this has become somewhat of a traditional message from Michael Saylor's company. He himself is known as one of the most active supporters and agitators of Satoshi Nakamoto's cryptocurrency. Therefore, it is not surprising that the company he founded in the 20th century was interested in the cryptocurrency market. Interestingly, however, MicroStrategy as a company has been investing in BTC only since 2020.
Where do the company's investment plans end when it comes to purchasing new bitcoins? Many analysts claimed that the ceiling would be 100,000 BTC. Others believed that reaching the 200,000 BTC ceiling would end MicroStrategy's investment charge. The 200,000 BTC threshold has been exceeded and there is no investment exemption in sight. So it looks like MicroStrategy will constantly and periodically allocate its capital in BTC.
