Jack Dorsey's Block And Michael Saylor's MicroStrategy Are Both Big On Bitcoin — But Here's The Real Winner
Portfolio Pulse from Mehab Qureshi
Block Inc (NASDAQ:SQ) and MicroStrategy Inc (NASDAQ:MSTR) have both invested heavily in Bitcoin. Block reported a 37.5% growth in Bitcoin-related revenue, reaching $2.42 billion. MicroStrategy purchased an additional 155 bitcoins in October, bringing its total to 158,400 bitcoins. However, MicroStrategy recorded an impairment loss on its digital asset holdings during Q3. Over the past year, MicroStrategy's stock saw an 82.59% increase, while Block's stock decreased by 18.42%.
November 03, 2023 | 12:10 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Block Inc's Bitcoin-related revenue grew by 37.5%, but its stock price decreased by 18.42% over the past year.
Despite the growth in Bitcoin-related revenue, the decrease in stock price indicates a negative market sentiment towards Block Inc. This could be due to factors not mentioned in the article, such as overall market conditions or company-specific issues.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MicroStrategy purchased an additional 155 bitcoins in October, bringing its total to 158,400 bitcoins. Its stock saw an 82.59% increase over the past year, despite recording an impairment loss on its digital asset holdings during Q3.
The increase in MicroStrategy's stock price, despite the impairment loss, indicates a positive market sentiment towards the company. This could be due to its significant investment in Bitcoin, which is seen as a high-growth asset.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100