Crypto News

MicroStrategy’s Bitcoin Acquisition Strategy The software company has been making headlines in the crypto world since August of this year, when it announced its first Bitcoin purchase of 21,454 BTC. As of October 30, MicroStrategy holds a total of 38,250 BTC, currently valued at over $450 million. This aggressive Bitcoin acquisition plan has caused the company’s stock price to surge, with a 38% increase since August. Challenges in the Software Business While MicroStrategy’s Bitcoin strategy has been successful in terms of stock price, the company’s software business has faced some challenges. In its Q3 2020 financial results, the company reported a 2.3% decrease in revenue compared to the same quarter last year. MicroStrategy also reported a net loss of $57.6 million in its software business, which the CEO attributed to the COVID-19 pandemic and a shift in customer demand. The 21/21 Plan MicroStrategy’s latest announcement of its 21/21 Plan has caused a stir in both the traditio...