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Microstrategy To Reveal Q3 Report Soon, More Bitcoin Accumulation Ahead ?

Published by
Sohrab Khawas

2021 was a great year for the crypto industry as most of the large-cap cryptocurrencies like Bitcoin that hit an all-time high. However, 2022 was just as disastrous. Stocks, bonds, crypto assets and several other risk assets faced severe crashes. 

However, after being under bearish control for such a long time, the crypto market seems to be recovering. Bitcoin has regained its crucial $20,000 level and is currently trading at $20,501.

Microstrategy Suffers Losses

Microstrategy, which holds a record for having the largest bitcoin org holding, is set to reveal its quarterly earning reports. Investors and traders are eagerly looking forward to the strategy that the company is expected to reveal in its report. At the moment, the company’s Bitcoin holding is around 50% unrealized loss against the total investment made to buy Bitcoins.

The firm’s Q2 report was not great as it had reported a loss of nearly $1 billion. It’s important to know that even after the flagship currency managed to gain $20,000, most Bitcoin investors are still trading in losses. Microstrategy is popularly known for accumulating Bitcoin whenever there is a price drop. Would the terrible macroeconomic conditions have brought a change in the company’s approach toward BTC and crypto, in general? 

Earlier in August, Michael Saylor resigned from the post of Microstrategy CEO, but continues to act as the company’s executive chairman. At present, he is also concerned with matters related to Microstrategy’s Bitcoin acquisition strategy and other crypto-related matters.

Bitcoin Treasuries claim that, as of October 2022, Microstrategy holds 130,000 BTC and in the month of September, the firm had purchased 301 BTC worth around $19,851.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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