Microstrategy, a business intelligence company that uses data to make better decisions, has announced plans to continue investing in Bitcoin even after the company reported an $414.2 million loss in its latest quarterly report.
MicroStrategy, a data analytics company, is working to continue investing in Bitcoin even after they lost $414.2 million last year. Read more in detail here: invest in bitcoin now.
3 weeks ago | 2 minutes ago | 2 minutes ago | 2 minutes ago | 2 minutes ago | 2 minutes ago
News about Bitcoin
Despite the deficit in Q2, 2021, a well-known platform, Microstrategy, intends to buy additional Bitcoins. The firm currently has about 105K Bitcoins in its financial sheet, valued at $2.051 billion. When a company suffers a loss, there is a chance that uncertainty may develop. They are, after all, a paper loss rather than a real one.
Microstrategy intends to keep buying Bitcoin despite the impairment loss, according to the company’s latest financial reports. The greatest aspect is that businesses do not have to declare profits until they sell, but losses may be reported on a cost basis.
Furthermore, Michael Saylor, CEO of Microstrategy, stated:
“The outcomes of our digital asset strategy execution continue to delight us. We’re going to keep investing in our digital asset strategy.”
Microstrategy’s Financial Situation
The overall revenue for the second quarter of the year 2021 was $125.4 million, according to financial records. Furthermore, in the second quarter of 2021, the profit was $102.3 million, while the loss was $299.3 million, or $30.71 per diluted share.
As of June 30, 2021, MicroStrategy’s digital assets, which included 105K bitcoins, had a carrying value of $2.051 billion. Since acquisition, the company has lost $689.6 million in impairment losses, with an average carrying value per bitcoin of $19,518.
Despite the loss, Microstrategy remains confident in its decision to invest in Bitcoin, which seems to be a risky choice. Since last year, when it started buying Bitcoins, the company’s stock price has plummeted. Furthermore, Saylor said that if the price of Bitcoin is lower in four years than it is now, he would rethink his approach.
You’ve been recommended
- microstrategy stock bitcoin
- when to buy bitcoin 2021
- is cryptocurrency legal