MicroStrategy’s October Bitcoin Purchase Grew Stash to 158,400 BTC

Major business intelligence company MicroStrategy continues to accumulate more bitcoin, as it just announced an additional 155 BTC purchase for over $5 million in October.

MicroStrategy’s former CEO and bitcoin proponent Michael Saylor announced the October purchase on X, stating that the company spent $5.3 million to buy the crypto asset.acquired an additional 155 BTC for $5.3 million and now holds 158,400 BTC. Please join us at 5pm ET as we discuss our Q3 2023 financial results and answer questions about the outlook forreport that it had purchased 6,067 bitcoin for $167 million, for an average price of $27,531, since the end of the second quarter.

According to its earnings report, the company’s net loss in Q3 2023 was $143.4 million, which included a digital asset impairment loss of approximately $34 million. The results reflect worse figures compared to Q3 2022, where MicroStrategy recorded a net loss of $27.1 million, with a digital asset impairment loss of $0.7 million.

“Our commitment to acquire and hold bitcoin remains strong, especially with the promising backdrop of potential increased institutional adoption.”Google’s Swift Move Towards Web3 Adoption: Advancements and ImplicationsSix Important Considerations for the Ethereum Price Going in Q4 2023

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