MicroStrategy Acquires 480 Bitcoins For $10M Cash

  • MicroStrategy Inc MSTR acquired 480 bitcoins for $10.0 million in cash between May 3 and June 28.
  • As of June 28, MicroStrategy and its subsidiaries held 129,699 bitcoins acquired for $3.98 billion.
  • MicroStrategy held $92.7 million in cash and equivalents as of March 31.
  • Related: EXCLUSIVE: MicroStrategy CEO Michael Saylor Joins Benzinga Live Monday To Talk The Future Of Bitcoin
  • MicroStrategy's first-quarter revenue decreased 2.9% year-over-year to $119.3 million, missing the consensus of $127.22 million. 
  • The company reported an adjusted net loss of $(117.62) million and an adjusted net loss per share of $(10.42), which was worse than the net loss of $(12.94) per share in the prior year's quarter. 
  • GAAP net loss was $(130.8) million or $(11.58) per share
  • Price Action: MSTR shares traded lower by 1.25% at $183.79 in the premarket on the last check Wednesday.
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