MicroStrategy (Nasdaq: MSTR), a business intelligence software company that holds bitcoin on its balance sheet, said it added nearly 9,000 bitcoins to its holdings in the third quarter. This brings the total to 114,042 BTC.
The company said the bitcoin purchases were “successful through raising funds this quarter through our IPO.”
at current price The value of bitcoin holdings is over $7 billion. by the total market value of MicroStrategy is estimated at 7.4 billion dollars.
In addition, the company said it would “Evaluate additional fundraising opportunities. to continue our bitcoin strategy.”
CEO Michael Saylor said in a conference call about its earnings. MicroStrategy said the company was committed to buying bitcoin and had no plans to sell it, with Saylor calling bitcoin a “great” long-term investment for shareholders.
Also Saylor is open to additional partners that may allow MicroStrategy buys more bitcoin
Saylor said that in the past three months It has shown “remarkable” developments for bitcoin, including greater institutional adoption and ongoing regulatory discussions.
Saylor added that “the profound game-changing dynamics are big tech companies and bitcoin,” for example Square’s Cash App and Twitter’s BTC tipping option.
Overall, MicroStrategy reported earnings per share (EPS) of $1.86 on revenue of $128.0 million for the quarter. That beat analyst expectations for $0.64 EPS and $127.5 million in revenue, according to FactSet.
MicroStrategy shares rose 1.3 percent to about $727 on Thursday.
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