MicroStrategy bought 9,000 BTC in the last quarter alone. All the company's funds in BTC are worth $ 7 billion.
As of today, MicroStrategy has a whopping 114,042 BTC at an average purchase price of $ 27,713.
Good news for BTC
As of today, MicroStrategy has a whopping 114,042 BTC at an average purchase price of a The company announced that it was purchasing exactly 8,957 BTC in its Q3 report, released on October 28. Michael Saylor, CEO of the company, said that the purchases were not over.
Today MicroStrategy is the world's largest publicly traded corporate owner with over 114,000 bitcoins. We will continue to evaluate the opportunities to raise additional capital to implement our BTC strategy, he said.
The software company increased its bitcoin holdings by 198% from last fall and from September 30 this year. had as much as 114,042 BTC, with an estimated average purchase price of $ 27,713 per coin, which means total expenses of $ 3.16 billion.
Since the company categorizes bitcoin as an "intangible asset", US accounting rules require it to report an impairment loss when the carrying amount of BTC falls below the "cost base". However, the company is not required to report any "paper" gains on the assets until the profit is realized through the sale.
With 1 BTC valued at approximately $ 60,600 at the time of writing, MicroStrategy's market share is approximately $ 6.9 billion, suggesting the company would make nearly $ 3.75 billion if it sold.
MicroStrategy provides business intelligence software, mobile application software, and cloud-based solutions, and the company derives revenue from sources such as product licensing and subscription services.
The company recorded combined revenue of $ 128 million in the third quarter. This represents an increase of 0.5% over MicroStrategy's results for the third quarter of 2020.
The company reported a gain of $ 1.86 per share compared with an forecast of $ 1.12 per share. The investment research firm said yesterday that MicroStrategy has already exceeded forecasts three times "in the last four quarters".
“This quarterly report is a profit surprise of 66.07%. A quarter ago, this business software firm was expected to post a profit of $ 0.73 per share when it actually generated a profit of $ 1.72, which is a surprise of 135.62%, ”reported Zacks Investment Research. j $ 27,713.
