MicroStrategy Loses $143M in Q3 After Buying More Bitcoin Amid Price Rally

MicroStrategy bought additional 6,067 Bitcoin for $167M in Q3 2023, bringing total holdings to 158,400 BTC acquired for $4.69B (~$29.6k per coin)

Purchase made as Bitcoin rallied to $35.8k, its highest price this year

Despite 3.3% revenue increase to $130M, MicroStrategy posted $143.4M net loss in Q3

Recognized $125.8M impairment loss on Bitcoin holdings due to lower market price

MicroStrategy stock up 29% over past month, closing at ~$426 on Wednesday