MicroStrategy reported an increase in revenue and promised to continue investing in bitcoin

MicroStrategy has released its financial statements for the first quarter of 2021. MicroStrategy is known as the largest bitcoin investor among public companies, but its success in the last segment is not limited to one rise in the cryptocurrency rate.

"Revenue from licensing products and subscription services in the first quarter of 2021 was $31.3 million, an increase of 52.3% compared to the first quarter of 2020," the company said in a press release.

The company's total revenue was $122 million, which is 10.3% higher than in the same period last year. "MicroStrategy's results in the first quarter clearly demonstrate that our corporate strategy, which includes two elements – increasing the business in the corporate analytics segment and acquiring bitcoin – brings significant benefits to shareholders," said Michael Saylor, CEO of MicroStrategy.

He also noted that the company is satisfied with the decision to purchase over 91 thousand bitcoins and will continue to increase its position in the cryptocurrency over time. "We will continue to acquire additional bitcoins in an effort to bring additional benefits to shareholders," he added.

At the same time, the company admits that it can both increase investments in bitcoin and liquidate part of the cryptocurrency. MicroStrategy (NASDAQ:MSTR) shares rose 2% to $670 after the markets opened. Earlier, MicroStrategy shares were added to the Binance cryptocurrency exchange.

BNY Mellon Bank in its own financial statements on Wednesday noted that the performance of one of its funds suffered due to the decision not to buy shares of MicroStrategy: "The performance of the fund suffered due to the decision not to hold shares of MicroStrategy, which rose after the company announced the purchase of bitcoin."