MicroStrategy is in great shape – THE optimistic speeches about the end of the crypto winter It will be multiple in its first months of 2023. A warming in Bitcoin (BTC) which is doing business well for MicroStrategy. The company founded by Michael Saylor has just published its balance sheet for him first quarter of the year, and it is clearly in the House.
MicroStrategy will raise the bar after a difficult year 2022
Now with a huge hoard of 140,000 bitcoin In its treasury, the listed company MicroStrategy (MSTR share) is transformed into a means of (barely) indirect exposure to the king of cryptocurrencies.
With a average purchase price of $29,800 per BTC, MicroStrategy may start to blow today, especially against the more basic At the end of 2022, when Bitcoin will be dangerously worth $16,000.
In its financial results for the first quarter of 2023, published on 1uh May 2023, MicroStrategy presents the hour $121.9 million income for the first 3 months of the year. It is +2.2% compared to the first quarter of 2022. And Bitcoin is still an integral part of the company’s strategy.
“Lords of the First Ward [2023], we strengthened our capital structure by using leverage, thanks to the full repayment of our bitcoin-secured loan. Now, we also continued to strategically manage our bank in addition to 7,500 bitcoins during the quarter, for a total of 140,000 BTC. (…)”
Andrew Kang, Chief Financial Officer (financial director) from MicroStrategy
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Bitcoin to boost MSTR stock clearance by 166%
On the occasion of these quarterly results, the founder Michael Saylor in a profit to draw up another assessment, that of the progression of the action of the company since the debut of his Bitcoin bet at the end of 2020.
Thus, the MSTR stock would have made a good 166% After all your first BTC investments from MicroStrategy, in August 2020. Now today’s first crypto-assets, this one did even worse, with a rise of ” only “ 143% for Bitcoin (in comparison, the flagship US index – the SP500 – I have not progressed 24% over this same period).
If Bitcoin manages to hold its own for good over $30,000this will only be a (big) bonus for MicroStrategy, as its NASDAQ-listed stock has clearly benefited from the crypto king strength. As we mentioned above with its average purchase price, it is even from $29,800 that Michael Saylor’s company will see its Bitcoin bet be double winner.
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