MicroStrategy published the financial results for the second quarter of 2021, with the most important part showing the continued plans to hold more Bitcoins. MicroStrategy is the largest independent public business intelligence company made famous in the cryptocurrency world after announcing ambitious plans to buy and hold Bitcoin.
The investment branches of the company are somewhat obsessed with cryptocurrency investments that will continue to buy and hold BTC or other cryptocurrencies despite losses in Q2 2021.
Institutional investors embracing cryptocurrencies
Many institutional investors have come to the world of cryptocurrencies and have significantly affected the market. His move shows that trust in the world of cryptocurrencies and digital assets as investments is increasing.
It encourages retailers to buy more crypto assets which ultimately help the entire market grow faster and more. MicroStrategy is one of the most influential institutions in this sector that has bought a considerable amount of digital assets, mainly Bitcoin, and plans to continue the trend.
The latest financial report for the second quarter of 2021 from MicroStrategy describes many details of financial operations such as revenue, gross profit, operating expenses, operating income (loss), net income (loss) and digital assets. The last part is the most interesting report for crypto enthusiasts.
The CEO's note for the MicroStrategy report focuses on cryptocurrencies. Michael J. Saylor, CEO of MicroStrategy Incorporated, noted his company's achievement in the last quarter in the software business: 13% revenue growth. He noticed:
“Our success in the market is due to the investments we have made and the wide adoption of our innovative MicroStrategy platform. We remain pleased with the results of the implementation of our digital asset strategy. Our latest capital increase allowed us to expand our digital holdings, which now exceed 105,000 bitcoins. Going forward, we intend to continue implementing additional capital in our digital asset strategy.
The book value of MicroStrategy's digital assets as of June 30, 2021 was approximately 105,085 Bitcoins. The important point is that this amount of Bitcoin has resulted in a loss of $ 689.6 million for the company, but the executives believe in this investment and plan to keep it longer. Most of the Bitcoin held by the company is owned by the company MicroStrategy LLC, approximately 92,079 of the Bitcoins.
