MicroStrategy Inc. has been very active in the
Bitcoin market, making extensive additions to its holdings. Notably, following a significant buy of
11,931 Bitcoins valued at roughly
$786 million, their total Bitcoin assets now exceed
$15 billion, the most of any corporation. In financing this acquisition, MicroStrategy completed a note offering worth
$800 million and increased its stock sale to
$700 million. Share value rose by
3% contrarily to the fall in Bitcoin's price, thanks to MicroStrategy's purchases. Insider activities witnessed sales from
Phong Le, the President & CEO, and
Andrew Kang, the CFO. Q2 results exposed a
$6.33 billion profit, although its stock price sunk by
9%. The company plans to make further acquisitions and is overall bullish about Bitcoin, even with predictions indicating a downturn. It has faced some legal trouble with a $40 million tax fraud lawsuit. Lastly, MicroStrategy has announced a decentralized ID platform on Bitcoin called
MicroStrategy Orange.
Microstrategy News Analytics from Tue, 30 Apr 2024 07:00:00 GMT to Sun, 23 Jun 2024 22:15:28 GMT -
Rating 8
- Innovation 7
- Information 9
- Rumor -4
