2nd Quarter Report from MicroStrategy: Bitcoin Amount Increased But Still in Loss _ - Coin Bulletin

Private company MicroStrategy, which holds the most Bitcoin, shared its second quarter report.

MicroStrategy reported a loss of $180 million in the second quarter. However, the company saw an increase in Bitcoin assets.

According to the latest report, MicroStrategy stated that it holds 226,500 Bitcoin acquired at a cost of $8.3 billion, with a current value exceeding $14 billion.

Despite the company normally being profitable, there is a single reason behind reporting a loss.

The company that did not switch to reporting based on the actual market value approved by the USA in the past months appears to be in loss despite actually being profitable due to Bitcoin being calculated at a lower price.

The company also announced that it will raise $2 billion in investment to acquire more Bitcoin.

CEO, pointed to developments in the United States

Micheal Saylor had stepped down as the company's CEO shortly before and handed over his position to Phong Le. Speaking about the recent report, Le mentioned that the idea of including Bitcoin in the US reserve assets has motivated them to be more positive.

We are extremely optimistic about Bitcoin's increasing understanding and the growing support of bipartisan politicians and institutions towards the ecosystem being showcased at the Bitcoin 2024 Conference in Nashville.