MicroStrategy has reported an impairment charge of $24.1 million on its bitcoin holdings in the second quarter, reflecting the decline in the price of bitcoin compared to its acquisition cost. The company's digital asset impairment is required under accounting rules and does not account for any increase in value unless assets are sold. Despite this charge, MicroStrategy's bitcoin holdings have increased to 152,800 bitcoins worth approximately $4.5 billion. The company also reported revenue of $120.4 million, falling short of analyst estimates.

TD Cowen analyst Lance Vitanza has initiated coverage of MicroStrategy with an "outperform" rating and predicts the stock could climb to $520, a 22% increase from its current level. Vitanza believes that MicroStrategy's use of retained earnings to buy and hold Bitcoin reflects a belief in the cryptocurrency's superiority as a store of value. He also recommends the stock as a way for institutional investors to gain exposure to Bitcoin without the fees associated with investing directly in the cryptocurrency or a Bitcoin ETF. MicroStrategy is set to report its Q2 earnings next week.

David Schwartz, the CTO of Ripple Labs, expressed regret for not buying shares of Coinbase after the positive ruling on XRP's status. While Coinbase's stock has since decreased by 4%, it outperformed its peers on Wall Street in the past few days, with a 29% increase in the past five days. Other stocks in the digital currency ecosystem, such as MicroStrategy, also saw significant gains following the XRP ruling. Schwartz's tweet about missing out on Coinbase stock received mixed reactions from the community, with some warning about potential legal trouble.

Software firm Microstrategy's stock (MSTR) rose by 7% after investment bank Berenberg projected that next year's Bitcoin halving could trigger a rally in the company's share price. Berenberg's current price target for MSTR is $430, which would be an 18-month high.

Investment firm Berenberg Capital Markets has given a bullish outlook on MicroStrategy (MSTR), founded by Michael Saylor, ahead of the upcoming Bitcoin halving. Berenberg has set a $430 price target for the tech firm, which holds 152,333 Bitcoin.

MicroStrategy, a well-known American company, has made a name for itself in the world of cryptocurrency through its pioneering investments and unwavering support for Bitcoin. This article provides a detailed overview of MicroStrategy, its notable Bitcoin investments, and its contributions to the wider crypto industry.

Kevin Adkisson, the chief revenue officer of MicroStrategy, a software intelligence firm that holds bitcoin on its balance sheet, has resigned from his position. Adkisson will continue to work with the company in an advisory capacity during a transition period. The reason for his departure is unclear, and the company has not yet commented on the matter. MicroStrategy's president and CEO, Phong Le, will take over Adkisson's responsibilities as head of the company's sales organization and sales function. The departure comes as MicroStrategy continues to purchase bitcoin, with its total holdings now worth around $4.6 billion.

July 5 (Cointime) - MicroStrategy has been consistently investing in Bitcoin and has increased its holdings over the past two years. Despite facing losses during the crypto winter triggered by LUNA collapse and FTX bankruptcy, the company's investments are now back in the green.

June 30 (Cointime) - The acquisition of Bitcoin by MicroStrategy has caused discussions about the possibility of centralization of the cryptocurrency. The company, led by Michael Saylor, has replaced its cash reserves with Bitcoin and now holds an impressive 152,333 BTC. This concentration of Bitcoin holdings has raised concerns about the decentralized nature of the currency.

June 30 (Cointime) - Michael Saylor, Executive Chairman of MicroStrategy, has expressed his belief that a Bitcoin ETF would be a significant development for the industry, providing clarity to institutional investors and legitimizing Bitcoin as an asset.