Big companies such as MicroStrategy and Tesla investing in Bitcoin will announce their second-quarter profit/loss reports next week. The report of Square, whose CEO is Jack Dorsey, who is known for his great support for Bitcoin, will be announced in August.
There is a short time left for the 3 companies that have made a sound with their investments in Bitcoin, to publish their quarterly reports. As it will be remembered, Tesla announced that it bought $1.5 billion in Bitcoin in February, and at the end of March, it announced that it made sales of $272 million. The company made a profit of approximately $128 million from the sale. Despite this profitable sale, Tesla’s market value also decreased in the second quarter.
Bitcoin is at the center of MicroStrategy!
MicroStrategy, which has won the love of Bitcoin supporters with more than 100,000 Bitcoin purchases, will also announce its second-quarter report next week. The company, which has spent more than $2 billion on the largest cryptocurrency, has not sold Bitcoin so far, and a sales announcement is not expected. CEO Michael Saylor always comes to the fore with Bitcoin messages.
The time has come when the two companies should announce their quarterly report. In particular, it was a matter of curiosity whether Tesla sold Bitcoin, but at The B Word event during the week, Elon Musk said that neither he nor Tesla sold Bitcoin. In fact, Musk announced for the first time that another company SpaceX, of which he is the CEO, also bought Bitcoin.
The price drop will show the figures clearly
Of course, the fall of the Bitcoin price after May is expected to affect the balance sheets of companies. The approximately 50% decrease in BTC price in the second quarter may reduce the market values of companies, but it is stated that MicroStrategy can still be profitable in this sense because of long-term purchases at cheap prices.
SEE ALSO: Binance Delists Aud, Euro, and Sterling Margin Pairs
