MicroStrategy quarterly figures: Far from finished with Bitcoin

Despite red quarterly results in the operating business, MicroStrategy maintains its Bitcoin-strategy. A stock split is also scheduled for next week, with each existing share being split into several new shares.

MicroStrategy was unable to increase its revenue from the previous quarter. At $111.4 million, total revenue was down about 7%. Operationally, this puts a loss of about $19 million on the books.

Since the operational software service at MicroStrategy is rather secondary, investors are mainly looking at the development of the Bitcoin strategy of the company.

And nothing changes in that: MicroStrategy now owns 226,500 BTC with a total value of $14.5 billion.

So far, the strategy is working: Total investment is at $8.34 billion.

Shareholders are also rewarding management's boldness. In fact, since the BTC strategy began, MSTR has outperformed Bitcoin.

The average price of BTC investment is $36,821, according to company information.

As expected, the company also continued its BTC accumulation strategy during the past quarter: Since the beginning of quarter Q2, the company has repurchased a total of 12,222 BTC and paid an average of $65,882 per coin for it.

However, the crypto purchases add to the company's ever-growing mountain of debt. MicroStrategy has accumulated $3.8 billion in debt at the time of writing, with an average interest rate of 1.6%.

Still, the company wants to raise more capital to buy Bitcoin. In total, it wants to raise $2 billion, this time through an equity offering.

Furthermore, a 10-to-1 stock split is planned. This will take place on Aug. 7.

MSTR's share price closed 6.36% lower on August 1.