MicroStrategy Will Continue to ‘Deploy Additional Capital’ in its Digital Asset Strategy: CEO Michael Saylor
The company will basically continue to pursue its corporate strategy of acquiring and holding Bitcoin, which they see as a “dependable store of value...untethered to sovereign monetary policy.”
Publicly-listed business intelligence company MicroStrategy will continue to invest in Bitcoin as part of its “digital asset strategy,” said the company CEO Michael Saylor in its Q2 earnings announcement this week.
The company said they are currently pursuing two corporate strategies, including growing their enterprise analytics software business and acquiring and holding Bitcoin, which they see as a “dependable store of value…untethered to sovereign monetary policy.”
Saylor noted that they are pleased by the results of its digital asset strategy as such, will continue to add to it. The company first started buying BTC in its treasury reserve in August last year.
“Going forward, we intend to continue to deploy additional capital into our digital asset strategy,” said Saylor as he noted that the company's digital holdings now exceed 105,000 BTC worth $2.051 billion at the end of 2Q21.
Saylor also attributed one of the best operations quarters of its software business in years to the investments they have made.
MicroStrategy reported total revenue of $125.4 million for the second quarter of 2021, representing a 13.4% growth. Gross profit in the quarter was $102.3 million while cash and cash equivalents stood at $56.4 million, as of June 30, compared to $59.7 million as of December 31.
MSTR shares, meanwhile, are down at $625.