MicroStrategy saw decent revenue growth in the first quarter of this year. CEO Michael Saylor announced this in a press release, published April 29:
In the first quarter, $MSTR had one of the strongest operational quarters in our software business in years, highlighted by 10% revenue growth and continued improvement in non-GAAP profitability. We continue to #hodl all 91,579 of our #bitcoin.https://t.co/Yrz8DGZkVV
— Michael Saylor (@michael_saylor) April 29, 2021
MicroStrategy made a lot of name recognition last year with its largest investments bitcoin (BTC). The company has now bought more than 91,000 BTC since last summer. The bitcoins are now worth more than $ 5 billion.
That ensures that the company sees an influx of new customers for its products and subscriptions business intelligence company. MicroStrategy reports in the press release that revenue from product licensing and subscription services increased by more than 50% in the first quarter of 2021 to $ 31.3 million.
Total revenues for the first quarter were just over $ 122 million, up 10.3% from the same period in 2020. Furthermore, Saylor says MicroStrategy wants to buy even more bitcoin:
“We remain happy with our bitcoin strategy. We will continue to acquire and hold additional bitcoin as we seek to create additional value for shareholders. ”
The price of MicroStrategy (MSTR) stock rose to a peak of $ 1,270 in February after a 1,000% rise since the company first bought bitcoin. At the time of writing, the MSTR price is around $ 657.
Yesterday it came out that BNY Mellon, the biggest custodian in the world, regrets that it had not bought shares from MicroStrategy, causing a fund owned by the bank to underperform.
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