MicroStrategy buys another $37 million worth of Bitcoin, totaling $8.1 billion, Michael Saylor says BTC has become an “institutional-grade asset”

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MicroStrategy, the largest publicly traded Bitcoin holder, purchased another $37 million worth of Bitcoin in January, bringing its total holdings to $8.1 billion.
The company said in its fourth-quarter earnings call on Feb. 6 that it acquired an additional 850 bitcoins in January and now holds a total of 190,000 bitcoins.
“2024 is the year Bitcoin is born as an institutional-grade asset class,” Executive Chairman Michael Saylor said on the call. “It’s the first new asset class of the modern era. The next 15 years will be a regulated, institutional, high-growth period for Bitcoin, very different from the last 15 years.”
MicroStrategy purchased more than 56,500 Bitcoins in 2023
MicroStrategy's Chief Financial Officer Andrew Conger also said the company purchased a total of 56,650 bitcoins in 2023 at an average price of $33,580.

MicroStrategy's net income was $89.1 million last year
The company also generated $89.1 million in net income last year, and recorded a $249.7 million loss in 2022. Saylor attributed the 2023 performance to investors recognizing the broader theme of "digital transformation of assets."
Saylor expects allocations to bitcoin to continue to pay off following the introduction of a spot bitcoin ETF in the U.S. He said this is the “catalytic moment” for bitcoin to move from a medium of exchange to a store of value.
“We no longer have to address any monetary criticism,” he added. “Solely as a store of value, there is no reason why Bitcoin can’t continue to exceed current levels and grow 100 times.”
MicroStrategy became the first publicly traded company to purchase Bitcoin as a strategic investment in December 2020. Since then, the company's stock price has risen by more than 3,00%, making it outperform major technology stocks such as Microsoft and Google, which have risen by just under 1,00% in the same period.
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