MicroStrategy Increases Bitcoin Holdings to 190,000 BTC

According to CryptoPotato, MicroStrategy has increased its Bitcoin position in January, bringing its total holdings to 190,000 BTC. Michael Saylor, the executive chairman of the company, announced that the company acquired an additional 850 BTC for $37.2 million, at an average price of $43,764 per coin. The company's Q4 earnings report revealed that all of its coins were acquired at an average price of $31,224 per coin. MicroStrategy's Q4 revenue decreased by 6.1% compared to the fourth quarter of 2022, and gross profit declined from $105.8 million to $96.3 million. With 190,000 BTC, the company now owns more Bitcoin than all nine newly launched Bitcoin ETFs combined, which hold approximately 181,000 BTC. MicroStrategy also owns nearly 1% of all BTC in circulation. Despite this, MSTR's stock price has fallen 16% since last month, before the Bitcoin ETFs went live. Saylor has stated that he is now selling his personal MSTR shares to acquire more BTC.