MicroStrategy, a prominent software and business intelligence firm, has further solidified its dedication to Bitcoin by acquiring an additional 850 BTC, totaling an investment of $37.2 million, as announced today by Founder and Chairman Michael Saylor.

Andrew Kang, the Chief Financial Officer of the company, reported that MicroStrategy has expanded its Bitcoin portfolio by an additional 31,755 BTC since the end of the third quarter of 2023.

This growth represents the company's largest quarterly increase in Bitcoin holdings over the last three years and marks the 13th consecutive quarter of Bitcoin accumulation on its balance sheet. 

Kang further highlighted that the notable surge in Bitcoin's price during the fourth quarter, combined with MicroStrategy's strategic maneuvers in the capital markets and the effective use of its cash reserves, enabled the company to acquire additional Bitcoin.

MicroStrategy's steady approach to Bitcoin has resulted in the accumulation of 190,000 BTC, acquired at an average price of $31,224 each. 

Beginning with an initial investment of $250 million in Bitcoin in August 2020, the company has strategically expanded its holdings. This deliberate approach to building a treasury reserve has resulted in holdings now valued at over $8.2 billion.

MicroStrategy President and CEO Phong Le highlighted the company's strategic capital raising efforts, which significantly boosted its Bitcoin holdings, and the launch of MicroStrategy AI—an AI-based business intelligence tool. 

The firm also reported double-digit growth in subscription services revenue for both the fourth quarter and the entire year, underscoring its commitment to transitioning its business operations to the cloud. 

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