• MicroStrategy added 12,222 Bitcoin in July 2024, now it holds 226,500 BTC valued at $14.5 Billion.

  • The firm reported a Q2 2024 net loss of $102.6 million. 

  • Since the beginning of July 2024, MSTR stock has displayed bullish swings, surging over 50%. 

This is the 41th time Microstrategy has expanded the size of its BTC holdings. The firm’s co-founder Michael Saylor is counted among the leading crypto moguls of the market.

MicroStrategy, a leading business intelligence firm, has acquired 12,222 worth $805.2 Million (for $65,882 per BTC). After the addition in Q2, 2024 the company now holds 226,500 BTC valued at $14.5 Billion, when writing.  

MSTR’s earning call shows that its Bitcoin yield stands at 12% YTD (Year to date), although the company aims to achieve a rate between 4% and 8% yearly in the coming 3 years. 

As per the release “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.”   

The company noted in its report that “BTC Yield is a key performance indicator (“KPI”) representing the % change period-to-period ratio between our Bitcoin holdings and our Assumed Diluted Shares Outstanding.”  

MSTR Earnings and Stock Analysis

MicroStrategy Incorporated has released the performance results for Q2 2024, where the firm expressed a net loss of $102. 6 million for the quarter. 

This has presented a shift from last year when it recorded a profit. Total revenue fell 7.4% from the previous year to $111.4 million. Still, the subscription services generated 21% more revenue and stood at $24.1 million.

Source: TradingView 

MSTR was corrected by over 20% this week and displayed strong selling pressure. It took support at around the 50-day EMA mark. MSTR stock will split 10:1 on August 8, 2024. 

Since the beginning of July 2024, MSTR stock has displayed bullish swings surging over 50% and testing the resistance of $1800.  

Market Price Update 

The global cryptocurrency market is experiencing a mixed intraday session, with a slight bearish bias. The total market capitalization has slipped by 1.24% to $2.29 Trillion, with most top cryptocurrencies trading in the red.

Bitcoin price did not show any major movement in the past 24 hours, at press time it is trading at $64,316.

Intraday Gainer 

  • Aave (AAVE): +9.24% to $115.10

  • Popcat (POPCAT): +6.88% to $0.6624

  • AIOZ Network (AIOZ): +6.34% to $0.5963

  • Helium (HNT): +6.14% to $5.05

  • MANTRA (OM): +4.41% to $1.18

Intraday Losers

  • Arweave (AR): -10.11% to $2.79

  • Beam (BEAM): -8.38% to $0.01643

  • ORDI (ORDI): -8.22% to $32.23

  • Ondo (ONDO): -8.19% to $0.8562

  • XRP (XRP): -7.64% to $0.5624

#BTC