Now Reading
MicroStrategy sees up to 52% revenue surge as Saylor confirms more Bitcoin buys ahead

MicroStrategy sees up to 52% revenue surge as Saylor confirms more Bitcoin buys ahead

Hey there! Before reading the article which is about MicroStrategy sees up to 52% revenue surge as Saylor confirms more Bitcoin buys ahead, you should read about how much bitcoin does microstrategy own. It shares basic information about this article and also adds more value to it. Do let us know how you feel about it in the comment section below. Happy Reading! Really glad that you are here.

MicroStrategy’s (MSTR) (MSTR) shares soared to a 52-week high and got the biggest boost from Bitcoin and blockchain technology last year, with the company’s revenue surging 50.6%. The business intelligence software maker was the only pure play in the technology sector to grow its earnings last year, with the stock up 89% since the beginning of the year, thus beating the S&P 500 index by 6%.

MicroStrategy has been on a tear recently, with the company’s stock price surging 52% since late June. This has been a boon to CEO Ray Saylor, who still owns 9.4 million shares in MicroStrategy, giving him a net worth of $333 million. (He was already a billionaire several times over, thanks to his long tenure at Intel.) Why has MicroStrategy been so hot lately? Saylor has attributed the surge to an uptick in cryptocurrency mining. The CEO told CNBC that his company has been busy helping Chinese miners set up their own operations.

MicroStrategy, which owns more than 91,000 bitcoins (BTC), saw remarkable revenue growth in the first quarter, its latest data shows.

In a press release dated 30. April CEO Michael Saylor said the company’s success goes far beyond bitcoin profits.

Saylor: BTC trading creates significant value

MicroStrategy continues to make headlines for its unequivocal stance on bitcoin and its future, making reservations regardless of sentiment or price.

The company’s efforts seem to have attracted a new customer base: nine months after it began converting its cash reserves into BTC, sales of its products and services have also soared.

Subscription and service license revenues were $31.3 million in the first quarter of 2021, an increase of 52.3% and 49.8% on a constant currency and non-GAAP basis, respectively, compared to the first quarter of 2020, the release said.

Total revenue for the first quarter was just over $122 million, up 10.3% from the same period in 2020.

MicroStrategy’s first quarter results are an excellent example of how our dual business strategy of growth in business analytics software and the acquisition and retention of bitcoin is generating significant shareholder value, Saylor said.

He said the company remains comfortable with its approach to the BTC acquisition, adding that it will add to its already substantial reserves.

We will continue to acquire and hold additional bitcoins to create additional value for shareholders, he concluded.

BTC (orange) versus MSTR (blue). Source: View of the shop

MicroStrategy sees up to 52% revenue surge as Saylor confirms more Bitcoin buys ahead

According to Cointelegraph, the company’s share price has experienced volatility this year that reflects the changing price of bitcoin itself.

The bulls have nothing to fear

The figures are a familiar boost for bitcoin bulls, who have been left in limbo this week as rumors of major acquisitions by companies like Facebook have not been confirmed.

See Also

This, coupled with the equally well-known price swings, has caused excitement in some quarters, while analysts say the bear market knows no bounds.

So far, bitcoin is doing well. There’s still no reason to worry, famed trader Michael van de Poppe told his followers on Twitter on Thursday.

The accompanying chart shows that the largest cryptocurrency has to overcome resistance at the $55,000 level, as altcoins have begun an accelerated rise.

1-hour candlestick chart of BTC/USD (Bitstamp). Source: View of the shop

MicroStrategy sees up to 52% revenue surge as Saylor confirms more Bitcoin buys ahead

At the time of writing, the BTC/USD pair is trading around $54,700 after dropping below $53,000 over the past 24 hours.

This source has been very much helpful in doing our research. Read more about microstrategy bitcoin holdings and let us know what you think.

Related Tags:

how much bitcoin does microstrategy own,microstrategy total bitcoin holdings,microstrategy bitcoin investment,microstrategy bitcoin holdings,michael saylor bitcoin prediction,saylor bitcoin purchase,microstrategy bitcoin price,michael saylor wife

Scroll To Top