Microstrategy now holds 190,000 bitcoins after the January purchase

Bitcoin-bullish software company MicroStrategy (MSTR) increased its Bitcoin position again in January, bringing its total holdings to an even 190,000 BTC.

The company's CEO, Michael Saylor, said on Tuesday that the company acquired another 850 BTC for $37.2 million in January. That average price is $43,764, slightly higher than today's trading price of $43,206. According to the company's Q4 earnings report, all of its coins earned an average of $31,224 per coin.

“Since the end of the third quarter, we have acquired 31,755 additional bitcoins, marking the largest quarterly increase in bitcoin holdings in the past 3 years and the 13th consecutive quarter of additional bitcoins added to the balance sheet,” the company wrote.

The company's Q4 revenue fell 6.1 percent compared to the fourth quarter of 2022, while gross profit fell from $105.8 million to $96.3 million. At 190,000 BTC, MicroStrategy still owns more bitcoins than the newly launched Nine Bitcoin ETF at around 181,000 BTC. It also owns nearly 1% of the BTC in circulation. MSTR is still down 16% since last month, before Bitcoin ETFs went live. Saylor said last month that he is now selling private MSTR shares to get more BTC.