Fun

MicroStrategy’s Q2 earnings reveals Bitcoin stockpile now $14.7B

News Feed - 2024-08-02 09:08:21

Tom Mitchelhill8 hours agoMicroStrategy’s Q2 earnings reveals Bitcoin stockpile now $14.7BMicroStrategy shares jumped just 1% in after-hours trading, with the company posting a net loss of $123 million in the second quarter.3426 Total views9 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onBusiness intelligence firm MicroStrategy purchased an additional 12,222 Bitcoin for $805 million in the second quarter of 2024, bringing its total Bitcoin holdings to 226,500 BTC worth around $14.7 billion at current prices. 


In its Q2 earnings call, MicroStrategy posted significant losses of $5.74 per share on a quarterly revenue of $111.4 million, a 7% decline year-over-year.


The losses exceeded analyst’s expectations, which pegged a quarterly loss of $0.78 per share and $119.3 million in revenue, according to Bloomberg survey data.MicroStrategy posted declining revenue of $111.4 million in Q2. Source: MicroStrategy


Notably, the firm revealed a net loss of $123 million in Q2, a slight improvement from its net loss of $137 million in the same quarter of 2023.MicroStrategy reported a net loss of $123 million in Q2. Source: MicroStrategy.


The firm shared that its total holdings of 226,500 Bitcoin had been acquired for $8.5 billion at an average price of $36,821 per Bitcoin.


It also unveiled a new key performance indicator called “Bitcoin Yield,” which represents the percentage change over time in the ratio between the firm’s Bitcoin holdings and its diluted outstanding shares.


Related:Michael Saylor ups BTC price prediction to $13M in bullish keynote


Diluted shares outstanding include all of the company’s common stocks and any additional shares created from convertible notes or exercising stock options.


MicroStrategy said its BTC yield currently stands at 12.2% year-to-date, noting that it would target a rate of between 4%–8% annually over the next three years.


“The Company uses BTC Yield as a KPI to help assess the performance of its strategy of acquiring bitcoin in a manner the Company believes is accretive to shareholders,” it said in a statement.


The company also confirmed that its 10:1 stock split — announced initially on July 11 — would be going forward effective Aug. 7.More Bitcoin buying ahead?


MicroStrategy said it would file a registration form for a $2 billion at-the-market equity offering in a bid to raise further capital, though it did not share what the capital would be used for. 


Historically, MicroStrategy has raised capital to purchase additional Bitcoin.


MicroStrategy shares are trading at $1,500 at the time of writing, having fallen 6% on Aug. 2. The firm’s share price bounced 1.1% in after-hours trading following the release of its Q2 earnings, per TradingView data.MicroStrategy shares fell 6% on the day but bounced 1% in after-hours trading. Source: TradingView


Magazine:THORChain founder and his plan to ‘vampire attack’ all of DeFi# Bitcoin# Cryptocurrencies# Business# Bitcoin Price# Stocks# Shares# Stock Investment# MicroStrategyAdd reaction

News Feed

Bybit lists Hamster Kombat’s token for pre-market trading
Helen Partz12 hours agoBybit lists Hamster Kombat’s token for pre-market tradingThe access to Hamster Kombat tokens on Bybit’s OTC pre-market platform allows users to secure HMSTR tokens ahead of the market and to lo
Salvadoran President Nayib Bukele Says Citizens Paying for Gas With the Chivo Wallet Will Get a Discount
Salvadoran President Nayib Bukele Says Citizens Paying for Gas With the Chivo Wallet Will Get a Discount The Salvadoran president, Nayib Bukele revealed on Friday that Chivo wallet
Germany Declares Crypto Gains Tax-Free After 1 Year — Even if Used for Staking, Lending
Germany Declares Crypto Gains Tax-Free After 1 Year — Even if Used for Staking, Lending The German Ministry of Finance has published a letter officially confirming that the sale
Web3 developer Community Labs pledges $35M for Arweave ecosystem accelerator
Zhiyuan Sun7 hours agoWeb3 developer Community Labs pledges $35M for Arweave ecosystem acceleratorQualified projects will be able to pitch their products to prominent VCs after the 10-week accelerator.853 Total views3 To
Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG
Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG The Italian luxury sports car manufacturer headquartered in Maranello, Italy, Ferrari ha
IMF Report on El Salvador’s Bitcoin Adoption: Risks Averted, but Transparency Needed
IMF Report on El Salvador"s Bitcoin Adoption: Risks Averted, but Transparency Needed According to a recent mission statement published by the International Monetary Fund (IMF), El
XRP Dips To $1.97 – A Golden Opportunity Before The Next Rally?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Savannah Fortis13 hours agoRobot guest-conducts the Korean National Symphony OrchestraThe android robot EveR 6 and conductor Soo-Yeoul Choi co-conducted a performance of six pieces with the Korean National Symphony Orche
Vitalik Buterin Warns Current Crypto Wallets Are Not Ready for Mainstream Adoption
Vitalik Buterin Warns Current Crypto Wallets Are Not Ready for Mainstream Adoption The cofounder of the world’s second-largest cryptocurrency, ethereum, wa
Anthony Clarke10 hours agoFrom payments to DeFi: A closer look at the evolving stablecoin ecosystemThe stablecoin ecosystem has evolved significantly over the years, with new regulations and models shaping the landscape.
Leading European Tire Retreader Vaculug to Accept Crypto Payments
Leading European Tire Retreader Vaculug to Accept Crypto Payments Vaculug, a British company that brands itself as Europe’s largest independent tire retreader, will now acce
The SEC Votes to Modernize Regulatory Framework for Derivatives Use
The SEC Votes to Modernize Regulatory Framework for Derivatives Use The US Securities and Exchange Commission (SEC) will enhance the regulatory framework for der