MicroStrategy's financial report of Q2 2023, which was released this Tuesday, shows that as of July 31, 2023, the company held 152,800 Bitcoin acquired for total cost of $4.53 billion, $29,672 per Bitcoin. MicroStrategy bought 12,333 Bitcoin for $347 million in Q2, and bought another 467 Bitcoin for $14.4 million in July. In Q2, MicroStrategy had an impairment loss of $24.1 million on its Bitcoin holdings.
Meanwhile, according to the filings MicroStrategy submitted to the US Securities and Exchange Commission (SEC), the company plans to sell up to $750 million of stock, and to use part of the net proceeds to buy more Bitcoin.
Andrew Kang, Chief Financial Officer of MicroStrategy, said, "our Bitcoin holdings increased to 152,800 Bitcoins as of July 31, 2023, with the addition in the second quarter of 12,333 Bitcoins being the largest increase in a single quarter since Q2 2021. We efficiently raised capital through our at-the-market equity program and used cash from operations to continue to increase bitcoins on our balance sheet. And we did so against the promising backdrop of increasing institutional interest, progress on accounting transparency, and ongoing regulatory clarity for Bitcoin."
Related: MicroStrategy Accquired 12,333 Bitcoins
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