Enterprise analytics and mobility software company MicroStrategy will continue to buy bitcoin despite a loss of $424.8 million. Bitcoin MicroStrategy holds the largest number of public sector companies worldwide. The company had to see a loss of $ 424.8 million during the second quarter of 2021. The company has incurred a total loss of $ 689.6 million since the third quarter of 2020.
As of June 30, 2021, the company has 105,085 bitcoins with a book value of $2.051 billion. The average carrying amount per bitcoin was around $19,518. According to buybitcoinworldwide.com, Tesla, Galaxy Digital Holdings, Voyager Digital and Square hold 42,902, 16,400, 12,260 and 8,027 bitcoins respectively.
Microstrategy CEO Michael J. Saylor said in a statement that he is pleased with the results of their digital asset strategy implementation. With the money he recently raised, he is able to expand his digital holdings, which now exceed 105,000 bitcoins. Going forward, they wish to infuse additional capital into their digital asset strategy. The company views bitcoin as a dependable value, backed by a robust, open-source architecture.
What is bitcoin?
Bitcoin is a virtual currency. It can also be used like other currencies like the dollar, rupee or pound. Apart from online payment, it can also be exchanged in dollars and other currencies. This currency came into circulation in the year 2009 in the form of bitcoin. Today it is being used for global payments. There are also exchanges for buying and selling bitcoin. Big businessmen and many big companies around the world, the world’s most expensive currency in financial transactions, bitcoin has become the world’s most expensive currency.