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MicroStrategy, a leading holder of Bitcoin, has acquired an additional 850 BTC in January, increasing its total holdings to 190,000 BTC, valued at $8.1 billion. In its Q4 2023 earnings call, the company’s CFO, Andrew Kang, revealed that MicroStrategy procured 56,650 BTC throughout 2023 at an average price of $33,580. Despite a 6.1% decrease in revenue, MicroStrategy reported a net income of $89.1 million, signaling a significant turnaround from the previous year’s loss. Executive chairman Michael Saylor emphasized Bitcoin’s institutional-grade status, foreseeing a regulated, high-growth period ahead. Saylor welcomed the advent of spot Bitcoin ETFs, highlighting Bitcoin’s transition from medium of exchange to store of value. He expressed confidence in MicroStrategy’s continued growth, unaffected by potential competition from traditional finance firms entering the Bitcoin space. Saylor affirmed the company’s commitment to purchasing more Bitcoin and collaborating with ecosystem participants to enhance revenue in the future.
