MicroStrategy, known for its repeat investments in Bitcoin, purchased more of the digital asset last quarter, according to a Feb. 2 investor report.
Andrew Kang, CFO of Microstrategy, said that the company increased its total Bitcoin holdings to approximately 132,500 BTC during the fourth quarter of 2022. That amount had a market value of $2.194 billion at the end of the quarter on Dec. 31, 2022.
Though Microstrategy’s Bitcoin holdings rose overall, the firm has seen cumulative impairment losses of $2.153 billion since its earlier investments. As such, its 132,500 BTC had a carrying value (the cost of the asset minus depreciation) of $1.84 billion on Dec. 31.
The business intelligence company additionally sold 704 BTC for $11.8 million of cash proceeds, resulting in gains on sale of $0.9 million in the fourth quarter.
Kang added that Microstrategy’s Bitcoin strategy “remains unchanged” — meaning that the company will continue to acquire and hold Bitcoin in the long term.
Microstrategy’s stock (MSTR) is up 9.04% today and is valued at $292.13.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://cryptoslate.com/microstrategys-bitcoin-holdings-were-valued-at-2-2b-in-q4-2022/
- 2022
- 84
- 9
- a
- According
- acquire
- added
- Additionally
- amount
- and
- approximately
- asset
- Billion
- Bitcoin
- BTC
- business
- business intelligence
- carrying
- Cash
- Category
- cfo
- company
- continue
- Cost
- digital
- Digital Asset
- during
- Earlier
- Firm
- Fourth
- Gains
- hold
- Holdings
- HTTPS
- impairment
- in
- increased
- Intelligence
- Investments
- investor
- known
- Last
- Long
- losses
- Market
- meaning
- MicroStrategy
- million
- more
- MSTR
- overall
- plato
- Plato Data Intelligence
- PlatoData
- proceeds
- purchased
- Quarter
- repeat
- report
- resulting
- ROSE
- Said
- sale
- since
- sold
- stock
- Strategy
- such
- TAG
- The
- to
- today
- Total
- value
- valued
- will
- zephyrnet