MicroStrategy Report Reveals Its 152.8K BTC Holding Worth $4.53B

• MicroStrategy’s Q2 2023 reveal the company’s total bitcoin holdings.
• The brand is now in possession of 152,800 BTC.
• The new MicroStrategy ONE platform, commits to expanding bitcoin holdings.

MicroStrategy, the largest independent publicly-traded business intelligence company, has released its financial results for the second quarter of 2023. The company reports acquiring an additional 12,800 bitcoins during the quarter for $361.4 million, bringing its total bitcoin holdings to 152,800 with a total cost of $4.53 billion.

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Despite ongoing macroeconomic headwinds, MicroStrategy recorded total revenues of $120.4 million for the quarter, a 1% decrease year-over-year. However, the company saw a 42% increase in Subscription Services Revenues, amounting to $19.9 million.

MicroStrategy’s President, Phong Le, highlights the importance of their new MicroStrategy ONE platform. In detail, the platform integrates business intelligence and artificial intelligence to enhance organizations’ operations.

Meanwhile, Andrew Kang, the Chief Financial Officer, emphasizes their commitment to increasing bitcoin holdings and raising capital efficiently through their equity program.

In addition, the financial report reveals that the company’s gross profit for the quarter was $93.3 million, representing a gross margin of 77.5%. The loss from operations for the quarter was $26.7 million, compared to a loss of $918.1 million in the same period last year.

Regarding their bitcoin holdings, the carrying value of their digital assets was $2.323 billion as of June 30, 2023. The company’s original cost basis and market value of bitcoin were $4.519 billion and $4.625 billion, respectively. This leaves an average cost per bitcoin of approximately $29,668 and a market price per bitcoin of $30,361.51.

MicroStrategy also announced a Sales Agreement with Cowen and Company, LLC and Canaccord Genuity LLC to issue and sell shares of its class A common stock up to $625.0 million.

The company believes that its non-GAAP financial measures, excluding share-based compensation expenses and non-cash items, provide better insights into its business performance. Lastly, management aims to grow the enterprise analytics software business while holding bitcoin as a dependable store of value.

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