MICROSTRATEGY ATTRACTS $42 BILLION TO PURCHASE BITCOINS
In its financial results for Q3, MicroStrategy reported a loss of $340.2 million and presented a plan to attract $42 billion to continue its strategy of buying bitcoins.
Operating expenses for the quarter reached $514.3 million, primarily due to losses from the impairment of digital assets amounting to $412.1 million.
During the quarter, MicroStrategy acquired 25,889 BTC at an average price of $60,839, spending approximately $1.6 billion. As of September 30, MicroStrategy owned 252,220 BTC with a market value of $16 billion.
The current figure is about $18.3 billion. In total, since August 2020, the firm has spent $6.9 billion on purchases of digital gold.
According to Yahoo Finance, MicroStrategy's market capitalization is $50.1 billion. The company's stock has risen by 508% over the past 12 months, while the price of bitcoin has increased by 111% (CoinGecko).
