Just-In: MicroStrategy Reports 12.2% YTD Bitcoin Yield, 226,500 BTC Balance
Highlights
- MicroStrategy has revealed its current Bitcoin holdings in its Q2 report
- The firm conducted a 10-for-1 stock split in the quarter
- MicroStrategy is inspiring more firms to join the BTC bandwagon
American business intelligence and software firm MicroStrategy Incorporated has released its Q2 performance report. As expected, the firm did not sell any of its accrued Bitcoin as it revealed a total portfolio balance of 226,500 BTC. Markedly, the Michael Saylor-led firm has established itself as one of the biggest supporters of Bitcoin since August 2020.
MicroStrategy Business and Stock Performance
According to its report, MicroStrategy boasts of a 12.2% increase in its Year-to-Date (YTD) BTC Yield. Significantly, the firm considers this metric an important one in measuring its alignment with its Bitcoin strategy.
In the second quarter, the firm implemented a 10-for-1 stock split, as a key highlight of its business. At the time of writing, the firm’s shares closed August 1 trading session down by 6.36% to $1,511.81. However, the After Hours performance has shown some improvements with just 1.06% surge in positive reaction to the earnings report.
Additionally, the business intelligence and software company has reiterated its continued commitment to its Bitcoin strategy. In the report, MicroStrategy acknowledged the huge support Bitcoin and crypto is getting from politicians and institutions.
For context, Phong Le, President and Chief Executive Officer of the firm highlighted the activities and Bitcoin-related discussions at the just concluded Bitcoin Conference.
A Leave From MicroStrategy Bitcoin Playbook
Noteworthy, MicroStrategy is a top role model for traditional firms who are interested in Bitcoin. A few of these companies have admitted to adopting one or two policies from the firm’s Bitcoin playbook to build their individual Bitcoin strategy.
Precisely, Metaplanet which recently joined “Bitcoin for Corporation” is one of such companies that kicked off its Bitcoin accumulation a few months ago.
Barely four months after it commenced accumulation of Bitcoin, the Japanese investment firm confirmed that it has acquired more than 225 BTC with plans to buy more. The desire of these firms to own BTC stems from their confidence in the coin. Largely, this is influenced by Bitcoin’s decentralized nature, its capacity as a store of value and its perceived long-term sustainability.
Quite a number of the firms are pivoting to Bitcoin as an hedge against inflation. Therefore, they are beginning to hold the flagship coin as a strategic reserve asset. Oftentimes, BTC is compared to gold with relation to their prospect. Vocal financial market analyst, Peter Brandt recently weighed in on the Bitcoin versus Gold narrative. Explicitly, he shared his perception of which of the two assets is the best fit as an hedge, highlighting the need for flexibility.
Read More: Shiba Inu Coin: SHIB Burn Rate Rockets 2600% Fueling Recovery Speculations
- Zcash (ZEC) Extends Rally Above $200 as Privacy Narrative Gains Reflexive Momentum
- Pump.fun Rival Zora Rallies Over 30% Following Robinhood Listing
- Peter Brandt Lists XRP Among Shorts Amid Crypto Market Crash
- Fed’s John Williams Backs More Rate Cuts This Year Amid Labor Market Concerns
- Bitcoin Edges Higher as Fed Chair Jerome Powell Fails to Comment on Monetary Policy
- Dogecoin Price Outlook as $23M Leaves Exchanges—Is the Parabolic Phase Beginning?
- Pi Network Price Collapses as Analyst Proposes Turnaround Tweaks
- Solana Price Prediction as SOL DAT Company Plans 5% Supply Acquisition—Analyst Targets $1,300 Breakout
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
