MicroStrategy Q3 2024 Earnings Report: Bitcoin Holdings Hit 252,220 BTC

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MicroStrategy, the biggest company holder of Bitcoin, recently shared its Q3 2024 financial results, showing its commitment to Bitcoin and digital growth as the main strategies to increase shareholder value.

Here’s a breakdown of MicroStrategy’s earnings and plans for future growth. Dive right in.

MicroStrategy & Bitcoin: A Love Story!

In 2020, MicroStrategy made headlines as one of the first major companies to adopt Bitcoin as its main treasury asset. This quarter, it increased its holdings by adding 25,889 BTC, bringing its total to 252,220 BTC, valued at around $18 billion. The company acquired this latest batch at an average price of $60,839 per BTC, underscoring its commitment to a long-term Bitcoin strategy.

With an average acquisition cost of $39,266 per BTC, MicroStrategy’s Bitcoin position is currently profitable. Its strategic buying approach has boosted shareholder value as Bitcoin’s market price has risen, showcasing the company’s effective timing and financial management.

Balancing Debt and Capital Flexibility

MicroStrategy uses a mix of debt and equity to balance its finances. With $4.3 billion in convertible debt and $1.1 billion raised through new shares, the company has managed to support its Bitcoin growth while keeping $836 million in cash for plans.

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