Michael Saylor, former managing director of MicroStrategy, recently announced that the company increased its Bitcoin holdings by 122 BTC in April, bringing its total to 25,250 BTC since the end of Q4 2023. Additionally, MicroStrategy CEO Phong Le emphasized the company’s dedication to the ongoing progress of the Bitcoin network. He also reported that MicroStrategy’s subscription services revenues and subscription billings showed double-digit growth rates during the first quarter.
Although subscription services revenues saw a notable 22% year-over-year increase, reaching $23 million, the overall revenues for Q1 experienced a slight decrease, totaling $115.2 million, a 5.5% drop compared to Q1 2023. At the same time, operating expenses rose to $288.9 million in Q1, marking a substantial 152.8% increase compared to the same period last year. Following these financial updates, the share price of MicroStrategy (MSTR) experienced a modest uptick of 0.8%, reaching $1,292 as reported by Google Finance.
Meanwhile, Bitcoin is currently trading at around $63,250 according to data from CoinMarketCap.