BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

MicroStrategy Reveals Addition 122 Bitcoin Buy Worth $8 Million

by Sham
April 29, 2024
in Crypto, Investing
A A
MicroStrategy Reveals Addition 122 Bitcoin Buy Worth $8 Million
1
SHARES
Share on TwitterShare on Reddit
  • MicroStrategy acquired an additional 25,250 bitcoins in Q1 2024, bringing its total bitcoin holdings to 214,400 BTC at an average cost of $35,180 per BTC
  • Total revenues for Q1 2024 were $1.15 billion, down 5% year-over-year, while subscription services revenues grew 22% year-over-year to $230 million
  • MicroStrategy issued $14 billion in convertible debt in March 2024 to raise funds for additional bitcoin purchases

MicroStrategy Incorporated, the largest corporate holder of bitcoin and the largest independent publicly-traded business intelligence company, announced financial results for the first quarter of 2024 on April 29, 2024. The company now holds 214,400 bitcoins acquired at an average price of $35,180 per bitcoin.

JUST IN: MicroStrategy $MSTR bought an additional 122 #Bitcoin worth $7.8 million

— BlockNews.com (@blocknewsdotcom) April 29, 2024

Q1 2024 Financial Highlights

Revenues

  • Total revenues for Q1 2024 were $1.152 billion, a 5.5% decrease year-over-year.
  • Product licenses and subscription services revenues were $359 million, down 0.9%.
  • Product support revenues were $627 million, down 4.3%.
  • Other services revenues were $167 million, down 17.6%.

Gross Profit

  • Gross profit for Q1 2024 was $852 million, representing a 74.0% gross margin. This is down from 77.1% in Q1 2023.

Operating Expenses

  • Operating expenses for Q1 2024 were $2.889 billion, up 152.8% from Q1 2023.
  • This includes impairment losses on digital assets of $1.916 billion in Q1 2024 compared to $189 million in Q1 2023.

Loss from Operations and Net Loss

  • Loss from operations for Q1 2024 was $2.037 billion compared to a loss of $203 million in Q1 2023.
  • Net loss for Q1 2024 was $531 million, or $3.09 per share. This compares to net income of $4.612 million, or $31.79 per share, in Q1 2023.

Cash and Cash Equivalents

  • As of March 31, 2024, MicroStrategy had $813 million in cash and cash equivalents, up from $468 million at the end of 2023.

Digital Assets

  • As of March 31, 2024, the carrying value of MicroStrategy’s bitcoin holdings was $5.074 billion, reflecting cumulative impairment losses of $2.461 billion.
  • The company held approximately 214,278 bitcoins at an average carrying value per bitcoin of $23,680.

Convertible Notes Issuances

  • In March 2024, MicroStrategy issued $800 million of 0.625% Convertible Senior Notes due 2030.
  • The company also issued $603.8 million of 0.875% Convertible Senior Notes due 2031.

Conclusion

MicroStrategy continues to execute on its bitcoin strategy, acquiring over 25,000 additional bitcoins in Q1 2024. The company believes its bitcoin holdings combined with its enterprise analytics software business provides a unique opportunity for value creation.

Tags: BitcoinBusinessdigital assetsMicrostrategy
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market
Crypto

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up
Crypto

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?
Crypto

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact
Binance BNB

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day
Crypto

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up
Crypto

Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up

June 21, 2025
Load More

Related News

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.