MicroStrategy Acquired an Additional 155 Bitcoin Since End of Q3

The company booked an impairment loss of $33.6 million on its digital asset holdings in the thrid quarter.

AccessTimeIconNov 2, 2023 at 3:31 p.m. UTC
Updated Nov 2, 2023 at 3:43 p.m. UTC

Alongside its third-quarter earnings report, software developer MicroStrategy (MSTR) disclosed the purchase of another 155 bitcoins (BTC) during October, bringing the total acquired since the beginning of Q3 to 6,607.

As of the end of October, the Tysons, Virginia-headquartered firm co-founded by Michael Saylor was the owner of 158,400 bitcoins acquired at a total cost of $4.69 billion, or $29,586 per bitcoin.

  • What Do EigenLayer's Outflows of $2.3B Signal?
    00:57
    What Do EigenLayer's Outflows of $2.3B Signal?
  • What Do TradFi Crypto Moves Mean for Decentralization?
    04:20
    What Do TradFi Crypto Moves Mean for Decentralization?
  • Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
    02:02
    Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
  • Ether Slides as Grayscale's ETHE Outflows Ramp Up
    00:53
    Ether Slides as Grayscale's ETHE Outflows Ramp Up
  • The company booked an impairment loss on its digital asset holdings of $33.6 million during Q3. Cumulative impairment losses have now risen to $2.23 billion reflecting an average carrying amount per bitcoin of roughly $15,491. That, of course, isn't terribly reflective of the market value as of Sept. 30 of the company's bitcoin, which was $27,030, nor the current price just under $35,000.

    Speaking on the earnings call, Saylor said on an earnings call that he thought increasing regulatory clarity in the crypto industry is creating "more comfort for institutional investors to be able to participate."

    "I think we'll see positive regulatory initiatives that will create more clarity and consistency during the coming 12 months," he added.

    MSTR shares are higher by 2.3% mid-morning on Thursday to $436.37.

    Edited by Stephen Alpher.



    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.