Cryptocurrencies
MicroStrategy Cash Flow Raises Some Eyebrows Amid Bitcoin Rally
- Revenue from software business is expected to be flat
- Company may report a loss because of impairment charge
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Analysts are starting to pay closer-than-usual attention to the underlying enterprise software business of Bitcoin-proxy MicroStrategy Inc.
How to best invest the cash kicked off from the operations was what originally caused co-founder and Chairman Michael Saylor to turn to Bitcoin four years ago. Since then, the Tysons Corner, Virginia-based company has adopted a two-track strategy of investing in the cryptocurrency rather than traditional assets such as short-term Treasuries, and growing the software operations.