Microstrategy Goes Bullish on Bitcoin with Strong Faith

  • August 2, 2021

Microstrategy Goes Bullish on Bitcoin with Strong Faith

Price swings and variations in the cryptocurrency’s market size have aided Bitcoin’s growing image. Despite recent bearish patterns, Bitcoin proponents believe cryptocurrency will be the currency of the future. Microstrategy, a well-known business intelligence and mobile software company said on Friday that they will be expanding its Bitcoin offerings.

The company’s stance on the world’s largest cryptocurrency follows claims that Microstrategy has suffered losses. According to CEO Michael Saylor, this loss dispersed across sectors, and the asset class would only serve to revitalize the market. In addition, the report stated:

“The results of our digital asset strategy implementation continue to please us. Our most recent round of funding allowed us to increase our digital holdings, which currently total more than 105,000 bitcoins. We intend to continue to invest more money in our digital asset strategy in the future.”

Microstrategy Profits Surpasses $100 Million in 2021

The company’s second-quarter gross profits have surpassed $100 million, indicating that 2021 is shaping up to be a spectacular year. The company’s entire BTC holdings were also discussed in Microstrategy’s recent report. Microstrategy had amassed 105,085 BTC, according to sources, with $690 million in total impairment losses. Microstrategy LLC, a subsidiary of the parent firm, holds approximately 92,079 BTC.

Moreover, as of today, Saylor and Microstrategy appear to be betting on Bitcoin’s capabilities. The proponent of Bitcoin even stated lately that if Bitcoin’s price was lower four years from now, he would reconsider his cryptocurrency strategy. Consequently, other market participants complimented Microstratagey’s bullishness and encouraged them to keep it up.

Movine Oduor
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