BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

MicroStrategy Reveals Addition 122 Bitcoin Buy Worth $8 Million

Michael Juanico by Michael Juanico
April 29, 2024
in CRYPTO, INVESTING
Reading Time: 3 mins read
1
SHARES
15
VIEWS
Share on XShare in TelegramShare on Reddit
  • MicroStrategy acquired an additional 25,250 bitcoins in Q1 2024, bringing its total bitcoin holdings to 214,400 BTC at an average cost of $35,180 per BTC
  • Total revenues for Q1 2024 were $1.15 billion, down 5% year-over-year, while subscription services revenues grew 22% year-over-year to $230 million
  • MicroStrategy issued $14 billion in convertible debt in March 2024 to raise funds for additional bitcoin purchases

MicroStrategy Incorporated, the largest corporate holder of bitcoin and the largest independent publicly-traded business intelligence company, announced financial results for the first quarter of 2024 on April 29, 2024. The company now holds 214,400 bitcoins acquired at an average price of $35,180 per bitcoin.

JUST IN: MicroStrategy $MSTR bought an additional 122 #Bitcoin worth $7.8 million

— BlockNews.com (@blocknewsdotcom) April 29, 2024

Q1 2024 Financial Highlights

Revenues

  • Total revenues for Q1 2024 were $1.152 billion, a 5.5% decrease year-over-year.
  • Product licenses and subscription services revenues were $359 million, down 0.9%.
  • Product support revenues were $627 million, down 4.3%.
  • Other services revenues were $167 million, down 17.6%.

Gross Profit

  • Gross profit for Q1 2024 was $852 million, representing a 74.0% gross margin. This is down from 77.1% in Q1 2023.

Operating Expenses

  • Operating expenses for Q1 2024 were $2.889 billion, up 152.8% from Q1 2023.
  • This includes impairment losses on digital assets of $1.916 billion in Q1 2024 compared to $189 million in Q1 2023.

Loss from Operations and Net Loss

  • Loss from operations for Q1 2024 was $2.037 billion compared to a loss of $203 million in Q1 2023.
  • Net loss for Q1 2024 was $531 million, or $3.09 per share. This compares to net income of $4.612 million, or $31.79 per share, in Q1 2023.

Cash and Cash Equivalents

  • As of March 31, 2024, MicroStrategy had $813 million in cash and cash equivalents, up from $468 million at the end of 2023.

Digital Assets

  • As of March 31, 2024, the carrying value of MicroStrategy’s bitcoin holdings was $5.074 billion, reflecting cumulative impairment losses of $2.461 billion.
  • The company held approximately 214,278 bitcoins at an average carrying value per bitcoin of $23,680.

Convertible Notes Issuances

  • In March 2024, MicroStrategy issued $800 million of 0.625% Convertible Senior Notes due 2030.
  • The company also issued $603.8 million of 0.875% Convertible Senior Notes due 2031.

Conclusion

MicroStrategy continues to execute on its bitcoin strategy, acquiring over 25,000 additional bitcoins in Q1 2024. The company believes its bitcoin holdings combined with its enterprise analytics software business provides a unique opportunity for value creation.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BitcoinBusinessdigital assetsMicrostrategy
TweetShareShare
Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

DON'T MISS THESE! HOT OFF THE PRESS

Solana’s Next Chapter: Can $SOL Reach $2,000 in the Coming Cycle?
CRYPTO

Solana’s Next Chapter: Can $SOL Reach $2,000 in the Coming Cycle?

September 1, 2025
XRP vs Bitcoin: Why Ripple’s Token Could See Greater Adoption
BITCOIN

XRP vs Bitcoin: Why Ripple’s Token Could See Greater Adoption

September 1, 2025
WLFi Token Unlock Triggers $500M Shockwave Across Crypto Markets
CRYPTO

WLFi Token Unlock Triggers $500M Shockwave Across Crypto Markets

September 1, 2025
Ethereum Whales Are Driving a Market Shift as Bitcoin Gets Dumped
BITCOIN

Ethereum Whales Are Driving a Market Shift as Bitcoin Gets Dumped

September 1, 2025
XRP Price Outlook: September 2025 Could Bring Bearish Sideways Action
CRYPTO

XRP Price Outlook: September 2025 Could Bring Bearish Sideways Action

September 1, 2025
Chainlink Nears Supply Squeeze as 90% of Holders Sit in Profit
CHAINLINK

Chainlink Nears Supply Squeeze as 90% of Holders Sit in Profit

September 1, 2025
Load More

Related News

Solana’s Next Chapter: Can $SOL Reach $2,000 in the Coming Cycle?

Solana’s Next Chapter: Can $SOL Reach $2,000 in the Coming Cycle?

September 1, 2025
XRP vs Bitcoin: Why Ripple’s Token Could See Greater Adoption

XRP vs Bitcoin: Why Ripple’s Token Could See Greater Adoption

September 1, 2025
WLFi Token Unlock Triggers $500M Shockwave Across Crypto Markets

WLFi Token Unlock Triggers $500M Shockwave Across Crypto Markets

September 1, 2025
Trump Claims India is Slashing Tariffs Against the U.S. and Here is Why

Trump Claims India is Slashing Tariffs Against the U.S. and Here is Why

September 1, 2025
Ethereum Whales Are Driving a Market Shift as Bitcoin Gets Dumped

Ethereum Whales Are Driving a Market Shift as Bitcoin Gets Dumped

September 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews