MicroStrategy Increases Bitcoin Holdings

MSTR MicroStrategy

MicroStrategy Increases Bitcoin (BTC) holdings by 2,500 and now holds 132,500 Bitcoin.

On December 28, 2022, MicroStrategy Incorporated (MSTR) announced that between November 1, 2022, and December 21, 2022, MicroStrategy, through its wholly-owned subsidiary MacroStrategy LLC acquired approximately 2,395 bitcoins for approximately $42.8 million in cash, at an average price of $17,871 per bitcoin, inclusive of fees and expenses.

On December 22, 2022, MacroStrategy sold approximately 704 bitcoins for cash proceeds of approximately $11.8 million, at an average price of approximately $16,776 per bitcoin, net of fees and expenses. MicroStrategy plans to carry back the capital losses resulting from this transaction against previous capital gains, to the extent such carrybacks are available under the federal income tax laws currently in effect, which may generate a tax benefit.

On December 24, 2022, MacroStrategy acquired 810 bitcoins for approximately $13.6 million in cash, at an average price of approximately $16,845 per bitcoin, inclusive of fees and expenses.

After the transactions described above, MicroStrategy and its subsidiaries, increased its bitcoin portfolio by 2,500 bitcoins, from 130,000 bitcoins as of October 31, 2022, to approximately 132,500 bitcoins as of December 27, 2022.

The approximately 132,500 bitcoins held by MSTR and its subsidiaries as of December 27, 2022, were acquired at an aggregate purchase price of approximately $4.03 billion and an average purchase price of approximately $30,397 per bitcoin, inclusive of fees and expenses.

MicroStrategy Incorporated (MSTR) Stock

MicroStrategy stock trades 3.62% lower today at $142.39. The stock has lost more than 73% of its value since the beginning of 2022. MSTR stock has a 52-week trading range between $134.09 and $573.26. MicroStrategy Incorporated market capitalization is now at $1.67 billion.

On November 10, Jefferies kept MicroStrategy at Underperform rating and cut the price target from $175 to $140.

MicroStrategy reported revenues for the third quarter of 2022 at $125.4 million, a 2.1% decrease compared to the third quarter of 2021. Gross profit for Q3 was $100.0 million, implying a 79.8% gross margin, compared to a gross profit of $105.7 million in the Q3 of 2021. As of September 30, 2022, MSTR had cash and cash equivalents of $60.4 million.

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