Microstrategy (Nasdaq:MSTR), the business-intelligence software firm that holds so much bitcoin on its balance sheet that it’s become something a proxy for the world’s biggest cryptocurrency, said it added almost 9,000 bitcoins to its holdings in the the third quarter, bringing its total to 114,042.
- The company said it purchased the bitcoin by “successfully raising capital in the quarter through our at-the-market equity offering.”
- At current prices, the value of its bitcoin holdings is worth just over $7 billion; Microstrategy’s entire market capitalization is roughly $7.4 billion.
- The carrying value of MicroStrategy’s bitcoin was $2.406 billion, which reflects cumulative impairment losses of $754.7 million. Under accounting rules for digital assets, companies must report an impairment if the asset’s price goes below the company’s purchase price at any time during the quarter.
- MSTR said it will “continue to evaluate opportunities to raise additional capital to execute on our bitcoin strategy.”
- Shares of MSTR were rising 1.5% to $727.80 on Thursday after the release of the report.
