The strategy, previously known as MicroStrategy, reported record profits of $10 billion on Thursday after Bitcoin Holding recovered value in the second quarter.
Virginia-based Tysons Corner has more Bitcoin than any other stock trading company, revealing $114.5 million in second-quarter revenue, up 3%. According to a company blog post, compared to a year ago.
Profits were expected given the Bitcoin Treasury's $5.9 billion loss due to the first quarter's price decline. According to the Crypto Data Provider, the asset price was soaked at $77,000 in the first quarter at $77,000, before reaching $111,000 in the second quarter. Co Ringecko.
Since the company began accumulating Bitcoin in 2020, companies that have moved away from software development have built a stockpile of 628,800 Bitcoin worth $74 billion.
At the end of the second quarter, the strategy held 597,000 Bitcoin and grown Bitcoin Stash from 499,000 Bitcoin about 20% every quarter. Bitcoin Treasures.
The wave of Crypto Treasury companies debuted this year, but the strategy has pioneered a playbook, where its stocks earn a premium in which it trades stock trades compared to crypto holdings, and stocks issue corporate debt that buys more Bitcoin than otherwise.
This year, the company issued several types of preferred stocks to fund the purchase of Bitcoin. And on Tuesday, strategy I said After raising $2.5 billion through STRC, it purchased around 21,000 Bitcoin.
In trading outside of business hours, the company's shares rose 1.5% to $408.
Bitcoin prices have risen to 118,000 in the past month, up 11% to $118,000, after setting a record high in July at $122,838 in July. However, Strategy's stock fell 0.6% over the same period after the market closed on Thursday after reaching $543 last year. Yahoo Finance.
The company said in October it would raise $42 billion to buy Bitcoin through stock and bond sales over the next three years. By the end of the first quarter, it was already issued Up to $21 billion of common stock approved under the plan. The strategy subsequently announced plans to issue $21 billion in common stock.
