Software company MicroStrategy is continuing its Bitcoin investments with its latest purchase of 467 BTCs, significantly contributing to its Q2 profits.
Latest Earnings Report From MicroStrategy
MicroStrategy, the largest independent publicly-traded business intelligence company, has announced its financial results for the second quarter of the 2023 fiscal year.
One of the standout highlights of the report is MicroStrategy’s Bitcoin holdings. The company has been steadily accumulating the crypto as part of its capital allocation strategy.
Its co-founder and chairman, Michael Saylo,r has been a very vocal proponent of Bitcoin. He recently revealed that the company had acquired an additional 467 BTC for $14.4 million. The company had previously reported the purchase of 12,333 BTCs in the month of June. As of July 31, 2023, MicroStrategy held a staggering 152,800 bitcoins, acquired at a total cost of $4.53 billion, with an average price of $29,672 per bitcoin.
Financial Performance in
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