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MicroStrategy CEO reiterates 'long term' Bitcoin play in Q3 earnings

Published 11/02/2022, 12:38 AM
Updated 11/02/2022, 02:20 AM
MicroStrategy CEO reiterates 'long term' Bitcoin play in Q3 earnings
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The third quarter earnings for business intelligence firm MicroStrategy revealed a narrowed net loss of $27.1 million for the quarter, while it continues to grow its Bitcoin (BTC) portfolio despite poor crypto market conditions.

The world's largest publicly traded corporate Bitcoin owner confirmed it still owns 130,000 BTC at the end of Q3 2022. That amount represents 0.62% of all Bitcoin that will ever be owned, which it says was acquired for a total cost of around $4 billion, or $30,639 per BTC.

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