MicroStrategy Acquires Additional 19,452 Bitcoins for $1.026 Billion

TYSONS CORNER, Va.--(BUSINESS WIRE)--MicroStrategy® Incorporated (Nasdaq: MSTR) (the “Company”), the largest independent publicly-traded business intelligence company, today announced that it had purchased an additional approximately 19,452 bitcoins for approximately $1.026 billion in cash at an average price of approximately $52,765 per bitcoin, inclusive of fees and expenses.

As of February 24, 2021, the Company holds an aggregate of approximately 90,531 bitcoins, which were acquired at an aggregate purchase price of approximately $2.171 billion and an average purchase price of approximately $23,985 per bitcoin, inclusive of fees and expenses.

“The Company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin,” said Michael J. Saylor, CEO, MicroStrategy Incorporated. “The company now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value. We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities in capital raising transactions with the objective of using the proceeds to purchase additional bitcoin.”

“MicroStrategy remains dedicated to our enterprise analytics customers and our goal of operating a growing profitable business intelligence company,” said Phong Le, President & CFO, MicroStrategy Incorporated. “We believe our bitcoin strategy, including our bitcoin holdings and related activities in support of the bitcoin network, is complementary to our software business, by enhancing awareness of our brand and providing opportunities to secure new customers.”

About MicroStrategy Incorporated

MicroStrategy (Nasdaq: MSTR) is the largest independent publicly-traded business intelligence company, with the leading enterprise analytics platform. Our vision is to enable Intelligence Everywhere™ MicroStrategy provides modern analytics on an open, comprehensive enterprise platform used by many of the world’s most admired brands in the Fortune Global 500. Optimized for cloud and on-premises deployments, the platform features HyperIntelligence, a breakthrough technology that overlays actionable enterprise data on popular business applications to help users make smarter, faster decisions.

MicroStrategy, HyperIntelligence, and Intelligence Everywhere are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.

Forward-Looking Statements

This press release includes statements that may constitute “forward-looking statements,” including estimates of future business prospects and financial results, expectations as to future returns on bitcoin, the future value of bitcoin, and the characteristics and utility of bitcoin in future periods, and statements containing the words “believe,” “estimate,” “project,” “expect,” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of MicroStrategy Incorporated and its subsidiaries (collectively, “MicroStrategy”) to differ materially from the forward-looking statements. Factors that could contribute to such differences include: the historical price volatility of bitcoin; uncertainty regarding the regulatory treatment of bitcoin under various securities, commodities, and other regulatory regimes; the potential for fluctuations in the price of bitcoin to significantly influence the market price of our class A common stock; our ability to generate sufficient amounts of cash to service our substantial debt; the potential for significant impairment charges to MicroStrategy’s earnings in the event of a decrease in the price of bitcoin and resulting volatility in MicroStrategy’s reported assets and earnings; the potential for security breaches or other cyberattacks that could result in a partial or total loss of MicroStrategy’s bitcoin assets; and other risks detailed in MicroStrategy’s periodic reports filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date hereof, and MicroStrategy undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this release.