U.At present – An ardent Bitcoin advocate and Bitcoin advisor to El Salvador's President Max Keiser has made some stunning statements about MicroStrategy, the enterprise intelligence firm based and led by Michael Saylor.

He stated the upside potential for MicroStrategy's inventory value is basically limitless.

Kaiser's ultra-bullish MSTR forecast

Keiser believes many financiers who’ve been within the trade for many years nonetheless don't perceive the profitable technique MicroStrategy employs and why its inventory value has soared.

He additionally believes there may be “actually no cap” on MicroStrategy's inventory value.

MicroStrategy Buys Extra Bitcoin

On Thursday, Michael Saylor's firm introduced that it had acquired a further 169 BTC in June for $11.4 million.

MicroStrategy now holds a complete of 226,500 Bitcoin tokens, following a earlier acquisition in mid-June, which is value roughly $14,659,329,150 in fiat at present change charges. The acquisition was introduced on July thirty first. A complete of $8.3 billion was bought, with a median value of $36,821 per coin.

MicroStrategy (MSTR) shares fell 6.5% within the buying and selling session earlier than the corporate launched its second-quarter earnings on Thursday. MSTR fell alongside the big sell-offs noticed in each the inventory and crypto markets. Nonetheless, MSTR has tripled in worth over the previous yr whereas the value of Bitcoin has soared twofold in the identical interval.

The corporate plans to boost $2 billion to develop its BTC

The corporate reported a internet lack of roughly $103 million, or $5.74 per share, in contrast with a revenue of $22.2 million, or $1.52 per share, in the identical interval final yr. The reported loss got here as MicroStrategy took an impairment cost on its bitcoin holdings ($180.1 million), down from $24.1 million within the second quarter final yr.

Earlier this yr, MicroStrategy raised funds twice for added allocations to Bitcoin by providing debt to buyers. In March, it raised $500 million, however in the summertime it elevated the quantity to $700 million, beginning with the identical goal. In line with Chinese language crypto journalist Collin Wu, the corporate plans to boost about $2 billion once more to additional enhance its funding in Bitcoin.

At present, Michael Saylor posted a tweet displaying how Bitcoin has helped the corporate's inventory value considerably outperform different tech corporations.

This text was initially printed on U.At present