- MicroStrategy added 12,222 BTC in the second quarter, worth more than $800 million.
- The company planned to invest an additional $2 billion in BTC, a potential 15% increase in its investment.
MicroStrategy revealed that it added $11 million Bitcoin [BTC] in July, bringing the second quarter acquisition to 12,222 BTC, worth more than $800 million.
At the time of writing, the Bitcoin development company owned a total of 226,500 BTC for a total of $8.3 billion.
Commenting on BTC’s second-quarter strategy, MicroStrategy Chairman Phong Le called it “successful,” citing a 70% increase in market value for the company’s holdings.
“After another successful quarter for our bitcoin strategy, MicroStrategy today owns 226,500 bitcoins, reflecting a current market value that is 70% higher than our cost base.”
MicroStrategy Seeks $2 Billion BTC Addition
Interestingly, the company indicated that it is looking to add approximately $2 billion worth of BTC, an increase of approximately 15% from its current holdings. According to the company’s CFO, Andrew Kang, the expected acquisition would be done with equity.
“We continue to carefully manage our equity capital and are filing a registration statement for a new $2 billion equity program.”
This move reinforced MicroStrategy founder Michael Saylor’s bullish stance, as evidenced by his recent publication projection that the BTC price could reach $3 million per coin by 2045.
According to CryptoQuant, MicroStrategy’s BTC investments had a total unrealized gain worth more than $7 billion. facts.
Source: CryptoQuant
Despite the notable bets on BTC and improved strategy in the second quarter, the company’s net loss for the same period was $200 million.
Through its second-quarter earnings report, MicroStrategy also highlighted that its digital assets suffered a $180 million loss amid a massive market decline during the same period.
At the time of writing, MicroStrategy stock MSTR was still above $1,500 despite a recent sell-off and a huge drop in BTC to $62,000 on August 1.
Based on year-to-date (YTD) performance, MSTR was 120%, compared to BTC’s 45%.
This indicated that MicroStrategy investors enjoyed much better returns than their peers who sought direct exposure to BTC.