Analytics software provider MicroStrategy has just announced it intends to continue investing in Bitcoin despite reporting a second quarter loss of $424.8 million.
In its second quarter earnings presentation, the company reported the company suffered a loss of more than $400 million on its Bitcoin investment. However, it should be noted this is just a loss on paper based on the price of Bitcoin at the end of the quarter and does not reflect a realized loss.
In fact, the company seems to have realized real profits of nearly $1B from its investment in the crypto.
In particular, the earnings report highlights the following:
"We continue to be pleased by the results of the implementation of our digital asset strategy. Our latest capital raise allowed us to expand our digital holdings, which now exceed 105,000 Bitcoins. Going forward, we intend to continue to deploy additional capital into our digital asset strategy."
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As of June 30, 2021, MicroStrategy owned around 105,085 BTC with a value of $2.051 billion.