Max Keiser: MicroStrategy Stock Growth Potential Unlimited, How and Why?
The post Max Keiser: MicroStrategy Stock Growth Potential Unlimited, How and Why? appeared on BitcoinEthereumNews.com.
Max Keiser, a famous Bitcoin (BTC) enthusiast who works for the president of El Salvador, recently made some rather grand statements about MicroStrategy. Keiser said that the only limitation is the ceiling when it comes to MicroStrategy’s stock price. This is in the wake of the company’s latest move to buy Bitcoin, and its stock has risen tremendously within the past year. Source: Max Keiser X Account MicroStrategy Acquires More Bitcoin, Holding 226,500 BTC The company’s CEO, Michael Saylor, and his company, MicroStrategy, have acquired more Bitcoins and now hold 226,500 BTC. In June, they purchased an additional 169 bitcoins for $11.4 million to their current stock. The investment in Bitcoin is equal to about $14.66 billion, and the average purchase price per BTC is $36,821. Investors and analysts are still focused on MicroStrategy’s Bitcoin strategy. Thus, the company has invested $8.3 billion in Bitcoin to date. This decision to buy more Bitcoin is based on the conviction that the virtual currency has a bright future. Michael Saylor regularly presents Bitcoin as a vital tool for MicroStrategy’s development. His strategy has entailed using the company’s assets to buy more Bitcoin, making MicroStrategy a unique business organization with different practices from conventional business strategies. MicroStrategy Posts $103 Million Loss This Quarter Even while buying a large amount of Bitcoins, MicroStrategy posted a net loss of nearly $103 million in the second quarter. This is a significantly lower figure than the $22.2 million profit made in the same period of the previous year. The losses were mainly attributed to an impairment charge of $180.1 million pertaining to Bitcoins. MicroStrategy’s share price was down 6.5% in the last trading session. This drop happened before the company released its second-quarter earnings. In this case, both the stock and cryptocurrency sectors of the market were factors in this decline.…
Filed under: News - @ August 3, 2024 12:24 pm