MicroStrategy announces new bitcoin purchases

Nasdaq-listed analytics software provider MicroStrategy said it would continue to invest in the first cryptocurrency using its cash reserves, according to its press release on first-quarter 2021 financial results.

Compared with the corresponding period of 2020, the company’s total revenue rose 10.3%, to $122 million. The driver was a sharp rise in revenues from licensing products and subscription services — up 52.3%, to $31.3 million.

“MicroStrategy’s results indicate the success of the company’s business development strategy in the corporate analytics software segment and the Bitcoin acquisition. These directions generate significant shareholder value.”, said CEO Michael Saylor.

The head of MicroStrategy expressed satisfaction with the approach to buying the first cryptocurrency and promised to continue following it in the future.

The press release states that the company may either increase or reduce its Bitcoin position.

As of April 28, 2021, MicroStrategy held 91,579 BTC on its balance sheet. According to Bitcoin Treasuries, the software provider paid for the coins at a discount of about 2.3x to their current market value, at $5.13 billion.

Earlier, BNY Mellon объяснил the disappointing performance of one of its managed funds, including the absence of MicroStrategy shares.

On April 26, Binance запустила trading of MicroStrategy-backed tokenised shares.

Subscribe to ForkLog news on Telegram: ForkLog Feed — all the news, ForkLog — the most important news, infographics and opinions