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This summer, MicroStrategy became the first public company to invest the lion’s share of its treasury in Bitcoin stating that “Once the real yield on our treasury got to more than negative 10% felt we were on a $500 million melting ice cube.”
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The shift follows five consecutive years of revenue declines, according to data compiled by Bloomberg. Adjusted earnings have also dropped for four straight years. MicroStrategy likely had an easier time shifting to the controversial coin than other public companies face. Saylor, who co-founded the firm in 1989 when he was just 24-years-old, holds around 73% of the voting shares and almost a quarter of its equity. The company went public in 1998.
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