MicroStrategy (NASDAQ:MSTR) buys more bitcoin, posts Q1 results

MicroStrategy Incorporated (NASDAQ:MSTR) has released its financial results for the first quarter ending March 31, 2024.

During the quarter, the company acquired an additional 25,250 bitcoins for $1.65 billion, with an average purchase price of $65,232 per bitcoin.

By the end of April 2024, MicroStrategy's total Bitcoin holdings reached 214,400, with an average purchase price of $35,180 per bitcoin.

Despite its aggressive accumulation of Bitcoin, MicroStrategy reported a 5% decrease in total revenues year-over-year, totalling $115.2 million.

Meanwhile, the company experienced a 22% increase in subscription services revenues, which rose to $23 million.

Additionally, the quarter was challenging for MicroStrategy, which reported a $203.7 million operational loss, significantly higher than the loss in the same period the previous year.

This increase in losses was primarily due to $191.6 million in impairment losses on its digital assets.