MicroStrategy News

Sven Henrich, CEO of NorthmanTrader, is the latest to become a Bitcoin supporter after speaking with Michael Saylor.

The business intelligence firm has reported it used non-GAAP methods of calculating figures for its BTC buys excluding the “impact of share-based compensation expense and impairment losses and gains on sale from intangible assets.”

MicroStrategy’s Michael Saylor has no intention of selling from his firm’s $5-billion Bitcoin chest despite a 40% drop in the value.

“This quarter we saw the trend continue with dramatic improvements to Bitcoin mining energy efficiency and sustainability,” said the founder and CEO of MicroStrategy Michael Saylor.

Michael Saylor’s MicroStrategy showed corporations that holding Bitcoin on their balance sheet is a viable strategy to hedge against inflation.

Bulls had a 90% higher open interest coming into Dec. 31 options expiry but bears managed to balance the scales at $47,175.

The company's holdings are valued at roughly $5.9 billion, representing more than $2.1 billion in gains since its initial purchase in August 2020.

MicroStrategy’s holdings are valued at more than $5.9 billion, representing more than $2.2 billion in gains since its initial purchase in August 2020.

The business data analytics firm has been investing in BTC since August 2020.

As of Sept. 30, MicroStrategy held 114,042 BTC at an average purchasing price of $27,713.

The fund will trade on ASX and aims to provide a level of crypto exposure to institutional investors.

The bullish setup has appeared after MSTR’s increasingly positive correlation with Bitcoin, the flagship cryptocurrency that has surged 339% year-on-year and is now struggling to close above $50,000.