MicroStrategy Inc. (NASDAQ: MSTR) is an American business intelligence firm, and one of the largest Bitcoin (BTC) holder firms. Recently, it added over 12K BTC, worth over $340 Million. This has also grown its crypto holdings to nearly 152333 BTC.
Meanwhile, the MSTR stock price showed a bullish trend in its most recent trading session. The increasing chance of a spot Bitcoin exchange-traded fund (ETF) getting ready to be approved by the Securities and Exchange Commision (SEC) is seen by the crypto analysts as bullish for BTC price.
It must be noted the Bitcoin-adjacent stocks rallied in yesterday’s trading session as a supposed response to the news on June 30, 2023, Friday that Cboe’s BZX Exchange had refiled its applications for several spot Bitcoin ETFs. The share price of Coinbase, a crypto exchange, (NASDAQ: COIN) also noted a more than 10% surge, while it closed at $79.93 yesterday.
MicroStrategy Inc. Financial Update
MicroStrategy Inc. has a market cap of nearly $4.89 Billion, while its net income in the last quarter, Q1 2023, was $461.19 Million. Its earnings per share for Q1 2023 is $31.79, whereas the estimation was negative $0.32, which accounts for a massive 10034.38% surprise. The revenue for the same period further amounted to $126.04 Million, despite the estimated figure of $119.05 Million.
For the upcoming quarter, the estimated earnings per share is $0.52, and revenue is expected to reach $124.20 Million. The revenue amounted to $499.26 Million last year, most of which around $266.52 Million came from its highest performing source at the moment, Product Support.
Notably, the greatest contribution to the revenue figure was made by the U.S. and Canada.
MSTR Stock Price Analysis
On July 3, 2023, yesterday, MSTR stock price added $35.42, rose over 10% and closed at the price of $377.84. The stock opened at the price of $347.00, noted high at $378.27 which was also its 52-week high, while low was $345.99. The MSTR stock price also showed a good trading volume supported by the active bulls in the market, according to the data sourced from TradingView, a web-based social network for traders.
As the above price chart shows, MSTR stock gained the investsors trust on yesterday’s trading session, which eventually led its price to trade a bit above its 20-day moving average. This price rise also showed another bullish sentiment as the RSI also reached its overbought zone.
