In July, MicroStrategy purchased another 169 BTC for $11.4 million and now owns 226,500 BTC, according to a statement from MicroStrategy CEO Michael Saylor.
MicroStrategy reported a net loss of $102.6 million for the second quarter of 2024, which equates to $5.74 per share. This marks a significant decrease from the $22.2 million, or $1.52 per share, net income the company recorded in the same period last year.
This significant loss was primarily due to a $180.1 million impairment charge on Bitcoin holdings, a large increase compared to the $24.1 million impairment charge charged in the second quarter of the previous year.
Despite the financial loss, MicroStrategy continued to expand its Bitcoin holdings under the leadership of CEO Michael Saylor. The company disclosed holdings of 226,500 BTC as of July 31, a slight increase since its last acquisition announcement in mid-June. These BTCs were purchased at a total cost of $8.3 billion, for an average of $36,821 per token.
*This is not investment advice.