Nasdaq-listed analytics software provider MicroStrategy will continue to invest in the first cryptocurrency using cash reserves, said CEO Michael Sailor. This is stated in a press release on financial results for the first quarter of 2021.
Compared to the same period in 2020, the company’s total revenue increased by 10.3%, to $ 122 million.The driver was a sharp increase in revenue from licensing products and subscription services – by 52.3%, to $ 31.3 million.
“The results from MicroStrategy speak to the success of the business development strategy in the segment of analytical software for corporations and the acquisition of bitcoin. These areas generate significant shareholder value , ”said CEO Michael Saylor.
The head of MicroStrategy expressed his satisfaction with the approach to buying the first cryptocurrency and promised to continue to follow it in the future.
The press release states that the company can either increase or decrease its position in bitcoin.
As of April 28, 2021, MicroStrategy had 91,579 BTC on its balance sheet. According to Bitcoin Treasuries , the software vendor paid for the coins 2.3 times below their current market value of $ 5.13 billion.
As a reminder, BNY Mellon Bank explained the unsatisfactory dynamics of one of the managed funds, including the absence of MicroStrategy shares in it.
On April 26, Binance launched trading in tokens backed by Microstrategy shares.