Recently, in June 2022, microstrategy 
microstrategy
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Business Intelligence
, the data analytics firm and one of the largest Bitcoin holding organizations in the world, revealed that the firm had made another purchase of around 480 Bitcoins worth $10 million.
MicroStrategy, the firm that started its Bitcoin holding in August 2020, currently holds 129,699 Bitcoins.
However, as Bitcoin is experiencing a downward trend after the asset lost its $23,000 range, the analytics firm has been hit with unrealized losses affecting the company’s shares drastically.
While MicroStrategy’s Q2 earnings reports are scheduled to be revealed next week, jefferies
jefferies
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Financial Service Provider
, the investment banking firm, downgraded the company’s stocks from hold to underperform. Nevertheless, there are no updates yet from the company.
An analyst at Jefferies, brent thill
brent thill
Brent Thill
Business AnalystDirector
, claims that one of the reasons for MicroStrategy’s present situation is the company’s inefficiency in working on its business intelligence.
The firm has yet to disclose its strategy toward its Bitcoin holdings as it would be challenging to hold on to them during the ongoing bearish market sentiment, especially in the last couple of months.
On the other hand, MicroStrategy’s status degradation from hold to underperform given by Jefferies has negatively impacted the company’s share price. The firm’s share price has declined around 6.50% in pre-market trading.
Michael Saylor In Support Of Bitcoin
Meanwhile, MicroStrategy’s CEO and founder, michael saylor
michael saylor
Michael Saylor is a Co-founder of Strategy formerly MicroStrategy. Before founding Microstrategy, he was a rocket scientist and studied aeronautics and astronautics at MIT on an Air Force scholarship. He dubs Bitcoin 'Digital Gold'. He made some early investment in Bitcoin as soon as he realized it was going to be the next big thing in shaping decentralized finance from traditional finance. His firm Strategy has made Bitcoin their primary treasure reserve. He is a vocal advocate and Top Bitcoin Speaker who participates in various Bitcoin and Crypto events. Michael Saylor is highly skilled in and has a rich knowledge of numerous fields, including analytics, data warehouses, SaaS, management, cloud computing, enterprise architecture, mobile devices, and many more.
Personal Details:
Born: Feb 4, 1965Location: United StatesGraduation: He graduated from MIT in 1987 with a double major in aeronautics, science, technology, and society.
Michael Saylor – Career Timeline
1983–1987: Studied Aeronautics & Astronautics and Science, Technology & Society at Massachusetts Institute of Technology (MIT).
1989: Co-founded MicroStrategy (Strategy).
1998: MicroStrategy IPO – Took MicroStrategy public on the NASDAQ at $12 per share.
2000: Accounting Scandal & Crash – MicroStrategy's stock plunged 62% in a day due to an accounting misstatement, wiping out billions in valuation.
2004–2019: MicroStrategy Rebuilds – Worked towards cloud-based analytics and AI-driven business intelligence, regaining stability.
2020: Bitcoin Strategy & Investment – Led MicroStrategy’s $425M Bitcoin investment. He made it the first publicly traded company to adopt Bitcoin.
2021: Bitcoin Evangelism – Became one of Bitcoin’s most vocal advocates, encouraging corporations and institutions to adopt BTC and blockchain.
2022: Stepped Down as CEO – Transitioned to Executive Chairman to focus entirely on Bitcoin strategy.
msaylor@microstrategy.com
EntrepreneurCrypto and Blockchain ExpertAuthor
, has always been a Bitcoin proponent and has spoken in favor of the asset several times. In the latest interview as well, Michael Saylor was seen forecasting a bull run for the Bitcoin price.
At the time of reporting, Bitcoin is selling at $21,370, with a surge of 1.29% over the last 24hrs.
According to the reports, in June, MicroStrategy saw an unrealized loss of around $1 billion owing to the bearish trend.
