a Nasdaq-listed company microstrategy, in the third quarter of 2021 bitcoin added 8,957 BTC to its holdings. In this way, the company brought its total BTC assets to a value of approximately 7 billion dollars.
Microstrategy, a Bitcoin-supporting software company, released its financial results for the third quarter of 2021 on October 28, revealing that it increased its total Bitcoin holdings by 8,957. Cryptocurrency CEO of the company, who is the Bitcoin bull closely followed by the community Michael Saylor used the following statements in his statement on the subject:
“MicroStrategy has announced its third-quarter results demonstrating the successful implementation of our operational and digital asset strategies. Overall demand for the MicroStrategy platform continued to increase and we are pleased with the increasing interest and adoption of our cloud solutions
We also significantly expanded our Bitcoin holdings in Q3, adding approximately 9,000 Bitcoins to our holdings after successfully raising capital through our stock offering. Today, MicroStrategy is the world’s largest publicly traded institutional Bitcoin owner, with over 114,000 Bitcoins. We will continue to evaluate additional capital raising opportunities to implement our Bitcoin strategy.”
The company states that the third-quarter addition was purchased at an average cost of $46,876 per BTC and approximately $420 million. It is worth noting that this represents a profit of approximately $110 million at the current price.
The software firm has significantly increased its Bitcoin holdings since last year and it looks like it will continue to do so.
Besides, the company reported total revenue of $128 million for the third quarter.