MicroStrategy Incorporated (Nasdaq: MSTR) reported its financial results for Q2 2024, revealing an increase in its Bitcoin holdings. The company acquired 12,222 bitcoins since the beginning of the quarter, at an average price of $65,882 per bitcoin, bringing its total holdings to 226,500 BTC, purchased for $8.3 billion at an average cost of $36,821 per bitcoin, as of July 31st. In July alone, MicroStrategy acquired\u00a0an additional 169 BTC for $11.4 million, Michael Saylor announced.<\/p>\n

In July, @MicroStrategy<\/a> acquired an additional 169 BTC for $11.4 million and now holds 226,500 BTC. Please join us at 5pm ET as we discuss our Q2 2024 financial results, the outlook for $BTC<\/a>, and our #Bitcoin<\/a> development strategy. $MSTR<\/a>https:\/\/t.co\/cfGPc42jfM<\/a><\/p>\n

\u2014 Michael Saylor\u26a1\ufe0f (@saylor) August 1, 2024<\/a><\/p>\n

President and CEO Phong Le highlighted the company’s focus on its Bitcoin strategy, introducing “BTC Yield” as a key performance indicator. This metric measures the percentage change in the ratio of the company’s Bitcoin holdings to its assumed diluted shares outstanding. Year-to-date, MicroStrategy achieved a BTC Yield of 12.2%, targeting an annual yield of 4-8% from 2025-2027.<\/p>\n

In addition to its Bitcoin strategy, MicroStrategy saw a 21% year-over-year increase in subscription services revenues, totaling $24.1 million. The company also successfully raised $800 million through a convertible senior notes offering and announced a 10-for-1 stock split effective August 7, 2024.<\/p>\n

“Since the beginning of Q2, we grew our bitcoin holdings by adding 12,222 bitcoins through proceeds from our capital markets activities and excess cash,” said\u00a0CFO Andrew Kang. “Additionally, we announced a 10-for-1 stock split earlier this month. We continue to closely manage our equity capital, and are filing a registration statement for a new $2 billion at-the-market equity offering program. Through our use of intelligent leverage, we have again achieved a ‘BTC Yield’ of 12.2% year-to-date, which we believe demonstrates significant bitcoin accretion to shareholders.”<\/p>\n

As of June 30, 2024, the original cost basis and market value of MicroStrategy\u2019s Bitcoin were $8.3 billion and $14 billion, reflecting an average cost per Bitcoin of $36,798 and a market price per Bitcoin of $61,926.69.<\/p>","protected":false},"excerpt":{"rendered":"

MicroStrategy Incorporated (Nasdaq: MSTR) reported its financial results for Q2 2024, revealing an increase in its Bitcoin holdings. The company acquired 12,222 bitcoins since the beginning of the quarter, at an average price of $65,882 per bitcoin, bringing its total holdings to 226,500 BTC, purchased for $8.3 billion at an average cost of $36,821 per […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26907","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/26907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=26907"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/26907\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=26907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=26907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=26907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}