Despite more than $2 billion in paper loses on their bitcoin holdings, MicroStrategy has bought some more during Q4 2022.
Their earnings report shows 3,204 bitcoin were bought between September and December at an average price of $17,600, bringing their total to 132,500 bitcoin.
The company also made $105 million in gross profits for the quarter, but they now owe more than they hold in assets.
MicroStrategy has $2.4 billion in cash, bitcoin and other assets, but close to $2.8 billion in liabilities, giving it a deficit of $383 million.
Most of the liabilities are due to loans to buy bitcoin, amounting to nearly $2.4 billion, with maturity dates between 2025 and 28.
That’s just three years from now, indicating MicroStrategy might have to sell some bitcoins to cover the loans.
For now however they keep buying the dip, although the sums are small relatively speaking to their purchases in 2020-21.
Source: https://www.trustnodes.com/2023/02/03/microstrategy-increased-bitcoin-holdings