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MicroStrategy, known for its repeat investments in Bitcoin, purchased more of the digital asset last quarter, according to a Feb. 2 investor report.
Andrew Kang, CFO of Microstrategy, said that the company increased its total Bitcoin holdings to approximately 132,500 BTC during the fourth quarter of 2022. That amount had a market value of $2.194 billion at the end of the quarter on Dec. 31, 2022.
Though Microstrategy’s Bitcoin holdings rose overall, the firm has seen cumulative impairment losses of $2.153 billion since its earlier investments. As such, its 132,500 BTC had a carrying value (the cost of the asset minus depreciation) of $1.84 billion on Dec. 31.
The business intelligence company additionally sold 704 BTC for $11.8 million of cash proceeds, resulting in gains on sale of $0.9 million in the fourth quarter.
Kang added that Microstrategy’s Bitcoin strategy “remains unchanged” — meaning that the company will continue to acquire and hold Bitcoin in the long term.
Microstrategy’s stock (MSTR) is up 9.04% today and is valued at $292.13.
The post MicroStrategy’s Bitcoin holdings were valued at $2.2B in Q4 2022 appeared first on CryptoSlate.
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