Longtime CEO Michael Saylor said MicroStrategy intends to continue buying more bitcoin despite its ... [+] recent price struggles. As of June 30, MicroStrategy owns about 105,085 bitcoins, worth nearly $4.2 billion based on Thursday prices of about $39,760. MicroStrategy's second-quarter loss is its greatest since the dot-com era in 2000, when the data-mining company posted a third-quarter loss of $168 million. TangentMicroStrategy owns more bitcoin than any publicly traded company, but in its namesake bitcoin fund, investment manager Grayscale owns 654,885 tokens—worth more than $26 billion on Thursday. Further ReadingBitcoin's Biggest Corporate Backer Expects $285 Million Loss After Crypto Crash—But Wants To Raise $400 Million In Debt To Buy More (Forbes)Bitcoin's Biggest Corporate Investor Raises $500 Million To Buy More—Topping Expectations As Crypto Surges (Forbes)

Source: Forbes July 29, 2021 20:48 UTC