As per the latest reports, MicroStrategy has reported that it has observed tremendous growth in the first quarter of 2021. According to the firm, its revenues have experienced a surge in the first quarter of 2021.
Michael J. Saylor, the CEO at MicroStrategy took the stage and shared the successful first quarter data with the followers and stakeholders. Michael J. Saylor shared the details around the revenues generated by the company during a press release on April 30, 2021.
He revealed that MicroStrategy’s revenue growth is not only from Bitcoin (BTC) it has purchased but also from other services.
MicroStrategy, which is a major business intelligence firm has proven itself to be one of the top proponent institutions. Over the course of 8 months, MicroStrategy has never once shown a bearish or neutral approach towards Bitcoin (BTC).
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No matter the situation BTC faced in the cryptocurrency trading markets, MicroStrategy never seemed to have left its side. Ever since the company started investing in Bitcoin (BTC), it has remained bullish about its growth and potential in the market.
The firm has even taken the liberty of promoting Bitcoin (BTC) among several mainstream institutions. The company seems to have vouched for its allegiance with Bitcoin (BTC) and is always making the efforts of promoting Bitcoin (BTC). It is one of the reasons why Bitcoin (BTC) has so much popularity and a high adoption rate in the mainstream industry.
Several companies tried following the same trail as MicroStrategy did in terms of trusting Bitcoin (BTC). However, the majority of the companies ended up proceeding with calling Bitcoin (BTC) highly volatile and liquidated their BTC for small profits.
While many mainstream institutions have called MicroStrategy’s move to be rather immature, yet things seem to be going in the business intelligence firm’s favor.
It seems that being loyal to Bitcoin (BTC) has finally started paying off for the company. The company has reported that after the acquisition of Bitcoin (BTC), the company has even observed a surge in its own products.
The company has revealed that the sales of its services and products have also boomed, and are showing all greens. The company has confirmed that it has observed a significant increase in subscription services and product licenses.
MicroStrategy has confirmed that for the first quarter of 2021, the sales of the said products have surged significantly. Compared to the same quarter of 2020, Q1 2021 has observed a 49.8% increase in revenues. The company has reportedly generated $31.3 million worth of revenue in the first quarter of 2021.
MicroStrategy has confirmed that apart from the particular services, its overall revenue for the first quarter was $122 million. This amount is excluding the profit it has generated from purchasing Bitcoin (BTC). Compared to last year’s Q1, MicroStrategy’s revenue has grown 10%.
