MicroStrategy Plans to Buy More BTC After 52% Surge in Revenue

Saturday 01 May 2021, 1:12 PM AEST - 1 week ago

MicroStrategy has made official its Q1 revenues, showing outstanding profits due to its Bitcoin holding strategy and booming sales of related products.

According to the official company release, MicroStrategy has raised over US$1 billion in additional capital to expand its Bitcoin holdings, to a total of 91,000 BTC —approximately A$6,692,205,190.

MicroStrategy Announces First Quarter 2021 Financial Results

Its total revenues for Q1 were US$122 million, a 10.3 increase compared to the Q1 of last year. Its sales of product licenses and subscription services also boomed, making US$31.3 million, a 52.3% increase compared to 2020.

“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.”

Quarter 1 Report

MicroStrategy to Buy More BTC this Year

MicroStrategy has been one of the top-tier Bitcoin buyers since mid-2020, allocating substantial amounts of BTC to its balance sheet. It seems the company has not lost its appetite since then, as they reportedly plan to buy and hold more BTC this year.

“We will continue to acquire and hold additional bitcoin as we seek to create additional value for shareholders.”

Its shares (MSTR) surged to one-month highs in mid-April, touching an intra-day high of US$770. Its shares were recently added as a fully tradable tokenised stock (MSTR) on Binance as well, together with gain tech Apple (AAPL) and Microsoft (MSFT).

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