MicroStrategy (tkr: MSTR), founder and CEO Michael Saylor has consistently promoted Bitcoin for the past year plus. There is hardly a business network nor crypto-dedicated YouTube channel that hasn’t had Mr. Saylor on to promote Bitcoin as MSTR has stockpiled more of the digital currency than any other public company. So what about MSTR’s core business?

• MicroStrategy’s software business is a different story. Last week MSTR reported that Q4 revenues declined by 3.4% year-over-year on a constant currency basis. That weak performance did not stop Mr. Saylor from making the media rounds today to further promote Bitcoin on the heels of Tesla announcing that it had purchased Bitcoin (potentially before Elon Musk promoted the digital currency to his 46 million Twitter followers. The SEC has significant catching up to do).
• The promotional tactic has worked for Mr. Saylor as MSTR’s stock price has increased from $388.55 at the close on December 31st 2020 to $1,041.00 at the close on February 8th – a gain of 168%. Whether this gain is sustainable is an open question.

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