MicroStrategy will purchase extra Bitcoins, Q2 report says

Crypto.information – MicroStrategy plans to promote 750 million shares of inventory to accumulate extra (BTC). Its present portfolio holds a complete of 152,800 BTC.

The corporate reported its intention to accumulate extra BTC in an SEC submitting on August 1.

MicroStrategy reported $22.2 million in internet earnings, growing its income by far in comparison with final yr’s interval, with a internet lack of 1.1 billion.

The corporate had 152,800 bitcoins by July 31, valued at 4.5 billion USD. MicroStrategy’s CEO, Michael Saylor, shared updates on Twitter concerning the corporate’s intention to accumulate extra Bitcoin.

Bitcoin efficiency throughout Q2

The second quarter of the yr has been a very good interval for Bitcoin’s efficiency, with higher total efficiency than altcoins.

In response to Coingecko’s business report, BTC had some volatility throughout Q2 of 2023, ending the quarter with a 6.9% achieve.

Coingecko’s report said that:

“BTC outperformed the whole crypto market cap, which elevated by 0.14% throughout the identical interval, rising from $1.238 trillion to $1.240 trillion (+$1.7 billion).” “BTC additionally managed to hit a yearly excessive of $30,694 after the announcement of BlackRock’s spot bitcoin ETF submitting on June 15.”

CoinGecko report

MicroStrategy’s resolution to accumulate extra bitcoin positively impacted the worth of the cryptocurrency.

This text was initially printed on Crypto.information