MicroStrategy’s Bitcoin holdings were valued at $2.2B in Q4 2022
The company increased its holdings to 132,500 BTC by the end of December.
MicroStrategy, known for its repeat investments in Bitcoin, purchased more of the digital asset last quarter, according to a Feb. 2 investor report.
Andrew Kang, CFO of Microstrategy, said that the company increased its total Bitcoin holdings to approximately 132,500 BTC during the fourth quarter of 2022. That amount had a market value of $2.194 billion at the end of the quarter on Dec. 31, 2022.
Though Microstrategy’s Bitcoin holdings rose overall, the firm has seen cumulative impairment losses of $2.153 billion since its earlier investments. As such, its 132,500 BTC had a carrying value (the cost of the asset minus depreciation) of $1.84 billion on Dec. 31.
The business intelligence company additionally sold 704 BTC for $11.8 million of cash proceeds, resulting in gains on sale of $0.9 million in the fourth quarter.
Kang added that Microstrategy’s Bitcoin strategy “remains unchanged” — meaning that the company will continue to acquire and hold Bitcoin in the long term.
Microstrategy’s stock (MSTR) is up 9.04% today and is valued at $292.13.