MicroStrategy Announces Balance Sheet: Progress Continues

International software company MicroStrategy announced its financial results for the first quarter of 2023. MicroStrategy, which reported profit for the first time after the last 9 quarters, remains the corporate company holding the most Bitcoin.

According to the figures presented, MicroStrategy’s revenues in the first quarter exceeded $121 million. The company’s impairment loss also declined to $18.9 million in the first quarter of the year. This figure was measured as 197 million dollars in the last quarter of 2022. In its official statement, the company also emphasized that Bitcoin purchases continued in the first quarter of the year. It was reminded that with 7,500 new purchases made during this period, the total amount of BTC reached 140 thousand. It was also reported that the prepayment of the loan received from Silvergate Bank was made during the period.

MicroStrategy CFO Andrew Kang made the following statements regarding the balance sheet in the press release:

We strengthened our capital structure by fully repaying our Bitcoin secured loan. We also strategically grew our BTC balance sheet by adding 7,500 Bitcoins in the quarter. Our faith in our Bitcoin strategy remains strong as the digital asset ecosystem continues to mature.

MicroStrategy CEO Phong Le emphasized that the company still adheres to the Bitcoin strategy, saying that while the digital asset environment continues to mature, their belief in Bitcoin strategies remains strong.