BI firm MicroStrategy reported the results of Q3, 2021. As noted in the paper, published on October 28, the company showed progress in the third quarter coming from both actionable and digital asset policies.
Related: MicroStrategy Purchases Another 5050 Bitcoins
The demand for Microstrategy's cloud service solutions has grown. Michael Saylor, the CEO of the firm said that the team had boosted bitcoin capital essentially.
In Q3, the firm bought around 9.000 bitcoins. Presently, it is the leading publicly traded corporation by the number of BTC funds. As Saylor noted, the firm now owns more than 114.000 coins and intends to add more.
MicroStrategy revealed a carrying value of $2.406 bln for its BTC holdings along with an impairment loss of $754.7 M from the time of purchase.However, the picture is different taking into account current prices. At the time of writing, the BTC price is about $61.000 and the value of Microstrategy's Bitcoin holdings exceeds $6.9 bln, which means nearly $3.75 bln in profit.
Michael Saylor is a huge supporter of BTC, believing that the coin is the answer in many economic situations. Recently, he advised fixing economies of countries such as Nigeria and Zimbabwe by buying the cryptocurrency and issuing assets backed by BTC.