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- The press release reported the total revenue in Q1 2021 to be $122.9M, a 10.3% increase compared to Q1 2020.
- This quarter, the enterprise purchased 20,857 Bitcoin (BTC) for more than $1.086B at $52,087 per token.
- MicroStrategy is pleased with its bitcoin strategy.
Business intelligence and analytics space pioneer, MicroStrategy® (Nasdaq: MSTR), reported a remarkable increase in revenue during its quarterly earnings report after the first quarter of 2021. Most of the gain was attributed to its Bitcoin purchases since December 2020.
MicroStrategy in Q1 2021
The press release, dated April 29, 2020, revealed the first quarter’s total revenue to be $122.9 million, precisely a 10.3% increase compared to that of last year’s first quarter.
This year, MicroStrategy, the global leader in enterprise analytics and mobility software, invested over $1.086 billion on purchasing about 20,857 Bitcoin (BTC) at an average price of $52,087 per coin.
Press Release Shares Delight
Sharing its delight, the press release cited Michael J. Saylor, CEO at MicroStrategy Incorporated, saying they are “pleased” with their “bitcoin strategy.” Raising more than “$1 billion of additional capital” through this quarter alone, their BTC holdings “now exceed 91,000.”
The software enterprise also hosted “a very successful ‘Bitcoin for Corporations’ track at MicroStrategy World™” to share their “thought leadership” in the crypto market and guide organizations who seek to “incorporate digital assets into their balance sheet management.” The platform promises to “continue to acquire and hold additional bitcoin” in its quest to create “additional value for shareholders.”
Savage Saylor: A Cult Figure
Owing to his myriad of “bizarre tweets and comments” on the demise of the USD, Saylor is seen as “a cult figure” of the crypto industry, commented CoinRivet, an independent digital currency-dedicated global news publication. He even launched a series of savage retorts when questioned by journalist Laura Shin if MicroStrategy would sell its BTC holdings during “the inevitable bear market.”
Reportedly, MicroStrategy’s share price is 49% down the all-time-high of $1,316 in February. However, the figure is still 468% up the price reported a year ago.
Prachi
ref link https://finance.yahoo.com/news/microstrategy-reveals-10-3-rise-084327674.html
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
