MicroStrategy May Purchase More BTC, But May “Sell” and “Decrease its Overall Holdings of Bitcoin”

Publicly-traded business intelligence company MicroStrategy released its Q1 2021 financial results, revealing “one of the strongest operational quarters” in its business in years.

More importantly, MicroStrategy continues to HODL all 91,579 BTC that it has purchased so far. Michael J. Saylor, CEO of MicroStrategy said,

“MicroStrategy’s first-quarter results were a clear example that our two-pronged corporate strategy to grow our enterprise analytics software business and acquire and hold bitcoin is generating substantial shareholder value.”

The company, however, is not done with its bitcoin buying spree and “may purchase additional BTC and increase its overall holdings.” But they may also “sell its bitcoins and decrease its overall holdings of bitcoin.”

Back in September, Saylor had famously said, “I Didn’t Buy It to Sell It. Ever,” and then this year, “If you owned the most desirable asset in the universe, why would you ever sell it?”

But of course, at some point, he has to sell, at least some.

This week, as we reported, Tesla sold 10% of its bitcoin holdings, but this trimming, as the electric car maker CEO said, was to prove the liquidity of the crypto asset while assuring that they believe in the long-term value of it.

Interestingly, at the time of the Bitcoin purchase, it made up 7.7% of Tesla’s available cash, which at the end of March, it had increased to 14.4%.

MicroStrategy meanwhile reported cash and cash equivalents of $82.5 million, up from $22.9 million at the end of the previous quarter.

The company reported a 10.3% increase in revenue at $122.9 million, with revenue from product licenses and subscription services amounting to $31.3 million, a 52.3% increase.

Gross profit for the quarter was $100.4 million while net loss was $110.0 million, or $11.40 per share on a diluted basis compared to net income of $0.7 million.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide