MicroStrategy’s Bitcoin Bet Faces Critical Test as Quarterly Results Loom

The world’s most ambitious corporate Bitcoin strategy faces a pivotal moment as MicroStrategy prepares to release its third-quarter financial results. The company, which has transformed from a software provider into a Bitcoin behemoth, will announce earnings after market close on October 30th, with investors showing clear signs of apprehension about its unconventional approach.

MicroStrategy recently expanded its already substantial cryptocurrency reserves through additional acquisitions. Between October 6th and 12th, the company purchased 220 Bitcoin at a cost of $27.3 million. These acquisitions were funded through various equity issuance programs, including STRF, STRK, and STRD preferred shares.

The latest buying spree brings MicroStrategy’s total Bitcoin holdings to a staggering 640,250 BTC, representing approximately 3% of all Bitcoin ever mined. The company has invested a... Read more...