Back in the green: MicroStrategy recorded its first quarterly profit in over two years while CEO Phong Le affirmed the firm's conviction in their Bitcoin strategy remains 'strong.'
Saylor, who serves as MicroStrategy’s chairman, attributed the successful quarter to sharp execution in the firm’s core business model and its Bitcoin investment thesis, which he described as the “right strategy," adding:
“So ultimately, it’s not easy to see what better strategy there might be. And so, we are strong proponents of a Bitcoin strategy. And as you can see from this chart, simply acquiring and holding Bitcoin in a prudent fashion is a pretty good way to outperform the market." The Bitcoin advocate predicted that investors will soon exit their positions on crypto assets that are “under the microscope in the regulatory environment,” which in turn will “flow into Bitcoin.”
MicroStrategy chief financial officer Andrew Kang added the firm also managed to reduce its leverage by repaying its
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