For the Litepaper crowd wondering why there’s a story about a stonk, this is why: MicroStrategy ($MSTR) is one of those equities that is essentially a Bitcoin ($BTC.X) play in the stonk market.
MicroStrategy reported its Q3 earnings after the market on Tuesday with the following major points:
- Loss of $0.96 per share
- Net loss of $27.1 million
- $727,000 impairment charge (Bitcoin) compared to the $917.8 million in Q2
- Revenue of $125.4 million
- Still hold roughly 130,000 Bitcoin, acquired 301 more
Probably more important than the stats were the comments on the earnings call by former CEO and now Executive Chairman, Michael Saylor.
“… since MicroStrategy adopted the Bitcoin strategy on August 11, 2020, our stock has outperformed all of the major asset classes that we benchmark ourselves against. It has outperformed all big tech stocks, and we have outperformed all enterprise software stocks that we benchmark ourselves against.”
Saylor reported that MicroStrategy is up 116% since their August 2020 strategy, compared to Apple’s ($APPL) +36%, Google’s ($GOOG) +27%, and Microsoft’s ($MSFT) +11%. MicroStrategy even beat Bitcoin’s performance of +72%.
You can read the full transcript here. 💪