MicroStrategy, known for its repeat investments in Bitcoin, said it bought more digital assets last quarter. February 2 investor report.
Microstrategy CFO Andrew Kang said the company has increased its total bitcoin holdings to around 132,500 BTC in the fourth quarter of 2022. That amount left him with a market value of $2,194 million at the end of the December 31, 2022 quarter.
Although Microstrategy’s bitcoin holdings have increased overall, the company has incurred cumulative impairment losses of $2.153 billion since its previous investment. So with a book value of 132,500 BTC (the cost of the asset minus depreciation), he was $1.84 billion on December 31st.
The business intelligence firm sold an additional 704 BTC for cash proceeds of $11.8 million, resulting in a $900,000 profit on the sale in the fourth quarter.
Kang added that Microstrategy’s Bitcoin strategy “will not change.” This means the company will continue to acquire and hold bitcoin in the long run.
Microstrategy shares (MSTR) are up 9.04% today and are worth $292.13.