MicroStrategy's Crypto Subscription Bag Surges $900M Amid Bitcoin Price Surge.
MicroStrategy’s Bitcoin bag is up $900M amid BTC price surge

Crypto Business Intelligence Firm MicroStrategy Reports $900 Million Gain

MicroStrategy, a business intelligence firm, has reported a paper gain of $900 million on its stack of 158,400 Bitcoin (BTC). This gain is attributed to the potential approval of spot Bitcoin exchange-traded funds (ETFs).

CEO Michael Saylor has added 6,067 BTC since the third quarter, including another 155 in October, as per MicroStrategy’s Nov. 1 results filing.

Phong Le, the CEO of MicroStrategy, has indicated that the firm does not plan to abandon its crypto strategy anytime soon.

The firm’s revenue increased 3% year-on-year to $129.5 million over the quarter; however, it wasn’t enough to prevent a net loss of $143.4 million.

Crypto Finance Takes Advantage of Downward Period

Despite the recent surge in Bitcoin’s price, BTC fell 11.5% from $30,480 to $26,970 during the third quarter (July 1 to Sept. 30). MicroStrategy capitalized on this downward period, buying 6,067 BTC for an average price of $27,590.

Crypto Subscription and Software Licenses Increase

The firm is also confident in the success of its crypto subscription services and software licenses, with year-over-year increases of 16% and 28% respectively. “We believe MicroStrategy is well situated to capitalize on both the tailwinds in bitcoin and growth in our BI business,” Le said.

According to Google Finance, after-hours trading has seen a 2.7% increase in the stock price (MSTR) of MicroStrategy, bringing it up to $438.

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