MicroStrategy, the leading enterprise analytics platform, issued its financial report for the second quarter of 2021 on Thursday, stating that the business is pleased with its strategic investment in digital assets and that it would continue to invest in its digital asset strategy.
The new funding raised MicroStrategy Incorporated’s holdings of Bitcoin, the popular cryptocurrency, to 105,085 Bitcoins, according to Michael J. Saylor, CEO.
MacroStrategy LLC, a MicroStrategy affiliate, holds approximately 92,079 Bitcoins. According to Coinmarketcap, Bitcoin was trading at $40,018.06 at the time of writing, breaking beyond the psychological barrier of $40,000.
Michael Saylor, the CEO of MicroStrategy, stated:
“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.”
According to MicroStrategy‘s second-quarter financial report data, the market value of Bitcoin on a non-GAAP digital asset cost basis and a non-GAAP (Generally Accepted Accounting Principles) market value were $2.741 billion and $3.653 billion, respectively, as of June 30. These two accounting systems determine the cost of each Bitcoin be $26,080 and $34,763, respectively.
MicroStrategy reported sales of $125.4 million for the quarter, up 13.4% from the same period the previous year. The gross profit margin grew from 78.3 percent to 81.6 percent in the quarter compared to last year, with a total gross profit margin of $102.3 million.