MicroStrategy, the company that owns more than 91,000 Bitcoin (BTC), As the latest figures show, the company saw a staggering increase in sales in the first quarter.
In a press release on April 30th, its CEO, Michael Saylor announced that the company’s success had exceeded its profits on Bitcoin.
Saylor: Selling BTC creates “significant value”
MicroStrategy continued to make headlines for its thoroughly bullish stance on Bitcoin and its future.Increase your bookings regardless of mood or price.
Your support seems to be gaining favor with a new clientele: Nine months after converting its cash reserves into BTC, sales of its products and services have also skyrocketed.
“Subscription product and service license revenue for the first quarter of 2021 was $ 31.3 million, an increase of 52.3% or an increase of 49.8% at non-GAAP constant exchange rates over the first quarter of 2020 . “says the press release.
Total revenue for the first quarter was just over $ 122 million, up 10.3% over the same period in 2020.“MicroStrategy’s first quarter results were a clear example of our dual corporate strategy of growing our business analytics software business and acquiring and holding Bitcoin generating significant shareholder value.”Saylor commented.
He said the company was “still happy” with its approach to acquiring BTC, adding that it would add to its already significant reserves.
“We will continue to acquire and hold additional bitcoin to create additional value for shareholders.”, he concluded.
As Cointelegraph reported, The company’s share price has been volatile that year, reflecting the Bitcoin price discovery itself.
The cops have “nothing to fear”
Numbers are a trusted helper to bitcoin bulls. that they were embroiled in rumors of large corporate acquisitions by companies like Facebook this week that have not been confirmed.
This, combined with an equally well-known price campaign, has generated buzz in some sectors while analysts argue there is no reason to be bearish.
“Everything is going well for Bitcoin so far. There is still nothing to worry about.”, summarized the popular dealer on Thursday Michael van de Poppe to your Twitter followers.
An attached chart highlighted the resistance from $ 55,000 for the largest cryptocurrency to be overcome.when the altcoins started accelerating their own profits.
At the time of this writing The BTC / USD pair traded around $ 54,700after coming full circle in the past 24 hours, which included a drop below $ 53,000.