MicroStrategy reveals 10.3% rise in revenue after Bitcoin purchases

  • Date: 01-May-2021
  • Source: Yahoo News
  • Sector:Economy
  • Country:Middle East
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MicroStrategy reveals 10.3% rise in revenue after Bitcoin purchases

American software and intelligence company MicroStrategy has confirmed a significant increase in revenue in today’s quarterly earnings report, with much of it being attributed to its Bitcoin purchases since December.

According to a press release, total revenues for the first quarter of 2021 were $122.9 million, a 10.3% increase on the first quarter in 2020.

In the first quarter of 2021, MicroStrategy purchased approximately 20,857 Bitcoin for $1.086 billion at an average purchase price of $52,087.