• MicroStrategy Inc’s financial recovery in Q2 has resulted in a significant improvement in their balance sheet.
• Bitcoin prices fluctuated between $25,000 and $30,700 before surging in mid-June amid SEC filings for spot Bitcoin exchange-traded funds.
• XDC Network, Wall Street Memes, Kaspa, XRP20, Maker, and Shibie are some of the best cryptos to buy now.
MicroStrategy Inc’s Financial Recovery
MicroStrategy Inc’s financial performance saw an impressive turnaround in Q2 2023 with net income rising to $22.2 million from a net loss of $1.1 billion in the same quarter last year. Total revenue remained steady at around $120.4 million but losses related to cryptocurrencies dropped sharply from $917.8 million to just $24.1 million this quarter. This was largely driven by MicroStrategy bumping up its bitcoin holdings and making a profit on them by adding 12,800 tokens at a cost of $361.4 million for an average price of $28,233.
Bitcoin Price Fluctuations
Bitcoin prices have been volatile since mid-June when SEC filings were made for spot Bitcoin exchange-traded funds (ETFs). The cryptocurrency is currently trading at $29,121 which is a 1.95% decrease so far today with support being tested at the Fib 0.382 level at $29,143 and the 100-day EMA at $28,518 should that not hold up.
Best Cryptos To Buy Now
Despite the fluctuations in Bitcoin’s price investors can still find promising opportunities elsewhere within the broader crypto market based on strong fundamentals and technical analysis combined together: XDC Network (XDC), Wall Street Memes (WSM), Kaspa (KPA), XRP20 (XRPD), Maker (MKR) and Shibe (SHB).
XDC Network – Bullish Resilience
XDC Network stands out as one of these investments due to its bullish resilience despite market downturns showing that it is well supported amongst investors who believe it will continue to rise over time as more businesses adopt blockchain technology into their systems and processes using XDC’s platform services such as smart contracts and decentralized applications etc .
In conclusion while there may be temporary volatility within the cryptocurrency markets there are still plenty of opportunities available for those willing to take calculated risks with their investment decisions such as those outlined above which offer potential long term rewards if done right .