- MicroStrategy has bounced back to profitability in the fourth quarter.
- The company saw a net income of $89.1 million compared to last year’s $249.7 million loss.
- MicroStrategy holds a total of 19,000 BTC worth over $8.17 billion.
The largest publicly traded holder of Bitcoin, MicroStrategy, has bounced back to profitability in the fourth quarter, bolstered by a significant tax benefit linked to its substantial cryptocurrency reserves.
MicroStrategy disclosed this development during its recent presentation of financial records for the last quarter of 2023. Specifically, the company, led by Bitcoin advocate Michael Saylor, announced a net income of $89.1 million, or $4.96 per share. This marks a notable turnaround from the previous year’s loss of $249.7 million, or $21.93 per share.
In the fourth quarter of 2023, MicroStrategy reported total revenues of $124.5 million. This reflects a 6.1% decline from the same period in 2022. Also, revenues from product licenses and subscription services totaled $39.9 million. Similarly, the figure marked an 11.4% decrease compared to the same period in 2022. …
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