MicroStrategy's crypto holdings may be paying off more than its business
Business intelligence firm MicroStrategy’s Bitcoin investment is paying off in a big way, with an estimated $100 million in profit. According to data published Oct. 27 by independent crypto researcher Kevin Rooke, MicroStrategy has earned more from its Bitcoin (BTC) investment than it did through its actual business for the last three years, from Q1 2017 to Q2 2020.
“Our recent decision to make Bitcoin our primary treasury reserve asset is the latest example of MicroStrategy’s embrace of virtual technologies,” said CEO Michael Saylor regarding the firm’s most recent quarterly report. In the weeks since MicroStrategy's initial $425 million investment, he has seemingly embraced a Bitcoin maximalist mindset by calling BTC one of the few “crypto-asset networks.”
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