MicroStrategy’s bitcoin holdings were valued at $2.2 billion in Q4 2022
MicroStrategy, known for its repeated investments in Bitcoin, bought more of the digital asset last quarter, according to a February 2 report to investors.
Andrew Kang, Chief Financial Officer of Microstrategy, said the company increased its total bitcoin holdings to around 132,500 BTC during the fourth quarter of 2022. This amount had a market value of $2.194 billion at the end of the quarter on the 31 December 2022.
Although Microstrategy’s bitcoin holdings have increased overall, the company has seen cumulative impairment losses of $2.153 billion since its previous investments. As such, his 132,500 BTC had a book value (the cost of the asset minus depreciation) of $1.84 billion as of December 31.
The business intelligence firm also sold 704 BTC for $11.8 million in cash proceeds, resulting in gains on the sale of $0.9 million in the fourth quarter.
Kang added that Microstrategy’s Bitcoin strategy “remains unchanged,” meaning the company will continue to acquire and hold Bitcoin for the long term.
Microstrategy (MSTR) stock is up 9.04% today and is valued at $292.13.
MicroStrategy’s bitcoin holdings were valued at $2.2 billion in Q4 2022
