MicroStrategy expected to report profit despite down quarter for crypto: Preview
MicroStrategy reports fourth quarter results Thursday with the company expected to turn a profit after several down quarters even as revenue comes in slightly lower than a year earlier. The software firm, better known in recent years for its bet on bitcoin, is expected to report revenue.
Net income is estimated at $10.7 million, which would be the first time MicroStrategy has posted a profit since the fourth quarter of 2020. MicroStrategy, which ended the third quarter with 130,000 bitcoin, sold the cryptocurrency for the first time last month, liquidating 704 bitcoin worth $11.8 million at the time of sale. But it turned around and bought 810 BTC two days later, adding to the 2,395 BTC acquired between Nov. 1 and Dec. 24. FTX collapse and bitcoin drop to around $17,000 compared to its November 2021 high of $69,000.
Source
https://t.me/DeFi_Ethereum
