Q2 2023: How Did MicroStrategy Impress Investors?
MicroStrategy, led by Michael Saylor, recently announced impressive earnings for Q2 2023. Here are the key points to take away:
– MicroStrategy now holds 152,800 bitcoins, an increase of 467 since June.
– The company spent a total of $4.53 billion to purchase these bitcoins, with an average cost of $29,672 per bitcoin.
– Despite the current price of Bitcoin hovering around $29,000, the company’s investment has still seen an increase of over 27% compared to last year.
– In the previous year’s earnings report, MicroStrategy included a $917.8 million impairment charge on its digital assets, whereas this year’s report only showed a $24.1 million impairment charge.
– While some experts believe that only a few companies can benefit from AI-driven revenue growth, MicroStrategy could be an exception, according to Dan Weiskopf, co-portfolio manager of Amplify Investments’ Transformational Data Sharing Exchange Traded Fund.
Overall, MicroStrategy’s impressive Bitcoin holdings and their ability to navigate the market have caught the attention of investors. However, further clarity is required to fully understand the potential impact of their AI-driven revenue growth.
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