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MicroStrategy Inc (Nasdaq: MSTR) is pushing down in extended trading on Monday after coming in shy of Street estimates for its first financial quarter.

How many Bitcoin does MSTR hold in total?

Shares are climbing also because the company based out of Virginia, United States spent $1.65 billion to acquire another 25,250 bitcoins in Q1.

It now owns a total of 214,400 BTC. Andrew Kang – the finance chief of MicroStrategy Inc said in a press release today:

We believe that the combination of our operating structure, bitcoin strategy, and focus on technology innovation provides a unique opportunity for value creation for our shareholders.

The Nasdaq-listed firm noted an annualised increase of 153% in its operating expenses to $289 million in its recently concluded quarter. MicroStrategy stock has nearly tripled since its year-to-date low in late January.

MicroStrategy Q1 earnings snapshot

• Lost $53.1 million that translates to $3.09 per share
• Had $461.2 million ($37.19 a share) in net income last year
• Revenue declined 5.0% year-over-year to $115.2 million
• Consensus was 13 cents a share loss on $121 million revenue

MicroStrategy saw subscription services revenue pop 22% versus the same quarter last year to $23 million, as per its earnings report. According to its CEO Phong Le:

Our subscription services revenue growth reflects continued successful transition of our software business to a cloud-native platform. We are pleased with continued global adoption of our cloud platform.

I've never met a well-informed #Bitcoin critic. pic.twitter.com/cfhmfDwhsr

— Michael Saylor⚡️ (@saylor) April 28, 2024

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