On October 30, news, MicroStrategy's stock performance in the past two years has outperformed almost all major U.S. stocks, including Nvidia Inc. Its co-founder and chairperson Michael Saylor's unconventional decision to buy bitcoin four years ago to offset inflation drove gains of more than 1,700%. MicroStrategy has moved from using cash flow to issuing convertible notes to buy bitcoin and plans to explore other ways to fund more purchases. Saylor said he is essentially borrowing money at an interest rate of 1% to buy bitcoin.
Bloomberg expects the new accounting system to turn loss-making MicroStrategy into a profit next year, as bitcoin assets will be revalued at market value, potentially resulting in a net profit of $2 billion next year and a loss of about $200 million this year.
Bloomberg forecasts that the new accounting system will turn MicroStrategy from a loss to a profit next year
2024-10-30 12:42:29
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