Home
News
The US-based microstrategy company recently announced its third quarter financial report. As per the record, the entity had achieved a growth level of 51%. MicroStrategy gained an additional 301 bitcoins at the end of September 2022. Recently, it created records as the world’s largest publicly traded crypto asset, with a holding of 130,000 bitcoins carrying a total value of $1.93 billion (USD).
At the end of September 2022, the company’s total revenue was $125.4 million, and the real market value of MicroStrategy’s bitcoin was $3.98 billion (USD). It shows the effect on the average cost per bitcoin in the crypto market.
Michael Saylor, the executive chairman of MicroStrategy, is a well-known figure who predicted that the price of bitcoin would reach $69,000 in the coming years. In 2021, he stated that the price of Bitcoin is 50 times better than the precious metal gold. Saylor’s company is one of the largest Bitcoin corporate holders in the world.
The CEO of MicroStrategy, Phong Le, stated that the results are impressive for the growth of the platform. He further added that “we are continuing to see the global adoption of our cloud platform by both domestic and international customers, and to benefit from the longstanding durability of our enterprise analytics business, with a third quarter renewal rate of 95% despite the ongoing macroeconomic headwinds.”
There is a belief among researchers that if MicroStrategy chooses Ethereum over Bitcoin to invest in, then the results of the profit will be doubled. If the entity bought ethereum, its worth would be nearly equal to $5.45 billion (USD), which is higher than the growth rate of bitcoin. MicroStrategy holds 130,000 bitcoins with a value of $2.79 billion (USD). If they purchased ethereum instead of bitcoin now, they would have 3,542,000 ETH with a value of $5.45 billion (USD).
Currently, China holding the most bitcoins has a value double that of the MicroStrategy company. At the time of writing, the nation is holding bitcoins at a high rate of $3.9 billion (USD). As per the reports, the Bitcoin network’s computing power has grown by nearly 60% since the start of 2022 and reached a record high of 273.21 EH/s on November 1.
Recently, the company received “Voice of the Customer” in the latest Gartner Peer Insights. “We are honored and proud to continue serving our customers the best we can,” the entity thanked the platform users.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
