{"id":478717,"date":"2024-02-07T12:33:44","date_gmt":"2024-02-07T12:33:44","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=478717"},"modified":"2024-02-07T12:36:48","modified_gmt":"2024-02-07T12:36:48","slug":"microstrategy-buys-37-million-more-bitcoin-bringing-total-to-8-1-billion-as-michael-saylor-says-btc-is-now-institutional-grade-asset","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/microstrategy-buys-37-million-more-bitcoin-bringing-total-to-8-1-billion-as-michael-saylor-says-btc-is-now-institutional-grade-asset","title":{"rendered":"MicroStrategy Buys $37 Million More Bitcoin, Bringing Total To $8.1 Billion, As Michael Saylor Says BTC Is Now ”Institutional-Grade Asset”"},"content":{"rendered":"

MicroStrategy, the largest publicly traded holder of Bitcoin, bought another $37 million worth of BTC in January to bring its total holdings to $8.1 billion.<\/span><\/p>\n

The company said in its its fourth quarter earnings call on Feb. 6 that it acquired another 850 BTC in January and now holds a total of 190,000 Bitcoin.<\/span><\/p>\n

“2024 is the year of the birth of <\/span>Bitcoin<\/span><\/a> as an institutional-grade asset class,” said executive chairman Michael Saylor in the call. “It’s the first new asset class of the modern era. The next 15 years will be a regulated, institutional, high growth period for Bitcoin, very different from the last 15 years.”<\/span><\/p>\n

MicroStrategy Purchased More Than 50,000 BTC In 2023<\/span><\/h2>\n

MicroStrategy’s chief financial officer, Andrew Kang, also said <\/span>the company bought a total of 56,650 BTC in 2023 at an average price of $33,580.<\/span><\/p>\n

\"MicroStrategy<\/p>\n

MicroStrategy Posted Net Income Of $89.1 Million<\/span><\/h2>\n

The company also <\/span>posted<\/span><\/a> a net income of $89.1 million last year, compared to a $249.7 million loss recorded in 2022. Saylor attributed the 2023 performance to investors recognizing the broader theme of a “digital transformation” of assets.<\/span><\/p>\n

Saylor expects the allocation in <\/span>BTC<\/span><\/a> to continue to pay off following the introduction of spot Bitcoin ETFs (exchange-traded funds) in the U.S. This is a “catalytic moment” in transitioning BTC from a medium of exchange to a store of value, he said.<\/span><\/p>\n

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#Bitcoin<\/a> is Timeless. pic.twitter.com\/Y8ZXXg7hhd<\/a><\/p>\n

— Michael Saylor⚡️ (@saylor) February 6, 2024<\/a><\/p><\/blockquote>\n