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Did MicroStrategy Make $900 Million by Buying 6,067 Bitcoin? 💰
#MicroStrategy , founded by Michael Saylor, gained $900 million as they bought 6,067 Bitcoin in the third quarter, capitalizing on a price drop. The move was spurred by optimism around potential approval of spot Bitcoin ETF.
Despite a 3% year-on-year revenue increase to $129.5 million, the firm recorded a net #loss of $143.4 million due to digital asset impairment losses and income taxes.
MicroStrategy remains committed to its Bitcoin strategy and also sees growth potential in its business analytics products, with its #stock price increasing by 2.7% in after-hours trading.
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