MicroStrategy, known as the company with the most Bitcoin and taking extremely bullish steps on BTC, announced its second quarter earnings report.
In July MicroStrategy bought another 467 BTC for $14.4 million and currently owns 152,800 BTC.
MicroStrategy paid $30,835 per BTC in its last purchase.
As of July 28, the company had an estimated 152,333 Bitcoins worth approximately $4.5 billion, and most recently purchased 12,333 BTC for $347 million in cash between April 29 and June 27.
With Bitcoin's big rise this year, the amount of losses on MicroStrategy's digital assets fell to $18.9 million in the first quarter, from a loss of $197.6 million in the fourth quarter.
Before the earnings report was announced, TD Cowen had estimated the company would generate $127.9 million in revenue, up 5% from the first quarter.
Here's the analysis by TD Cowen's Lance Vitanza:
“MicroStrategy represents a new breed of firm that generates dollar-denominated cash flows from enterprise software products and cloud intelligence services, but then efficiently leverages the excess cash flow into Bitcoin.”
*Not investment advice.
