While companies are expected to announce their end-of-period reports, one of the companies that caught their attention is MicroStrategy with its Bitcoin adoption.
The company is expected to announce a profit despite the Bitcoin decline last year.
MicroStrategy Remains Unharmed from Bitcoin’s Drop
MicroStrategy became the focus of criticism with its pro-BTC policy, and even the company’s founder, Michael Saylor, resigned from his CEO position and turned to this policy only.
The report, which will be announced after the price of Bitcoin last year, so to speak, is expected to announce a profit instead of loss. According to the data compiled by FactSet, the company, which announced a profit of 134.5 million dollars in the same period of last year, is expected to make a profit of 131 million dollars in this period.
Net income is estimated at $10.7 million, marking MicroStrategy’s first profit statement since Q4 2020.
A revenue slump could halt a series of three-quarters growth, but it will come in the middle of a tough quarter for the crypto world, with FTX declaring bankruptcy and Bitcoin dropping to around $17,000 compared to its November 2021 high of $69,000.
