Microstrategy bought nearly half a billion dollars worth of bitcoin last quarter according to its latest financial filing.
The company said they earned $134.5 million during the fourth quarter, a 2.4% increase over Q4 2020.
“Our software business returned to positive revenue growth for the first time since 2014, highlighted by our enterprise analytics business delivering another strong quarter as we saw a growing adoption of the MicroStrategy platform, especially in the Cloud,” said Michael J. Saylor, the CEO of MicroStrategy.
Their gross profits amounted to $110.5 million, an 82.2% gross margin for the software company.
They also bought 10,300 bitcoin during the quarter, worth about $400 million. Saylor said:
“We also significantly expanded our bitcoin holdings in the quarter, adding over 10,300 bitcoins to our holdings after successfully raising capital in the quarter through our at-the-market equity offering.
Today, MicroStrategy is the world’s largest publicly traded corporate owner of bitcoin with over 125,000 bitcoins.
We will continue to evaluate opportunities to raise additional capital to execute on our bitcoin acquisition strategy.”
Source: https://www.trustnodes.com/2022/02/02/microstrategy-bought-half-a-billion-bitcoin