Investing.com – On Tuesday, MicroStrategy Inc (NASDAQ:MSTR), the listed company with the most Bitcoin holdings, made a profit of US$22.2 million in the second quarter, turning losses into profits. During the same period last year, the company had to take a massive impairment loss due to the slump in bitcoin prices.

Results show that MicroStrategy’s net profit in the second quarter was US$22.2 million, totaling US$1.54 per share, compared with a loss of more than US$1 billion in the same period last year. Results show that MicroStrategy’s second-quarter revenue was $120.4 million, which was lower than analysts’ expectations of $123.2 million.

In the second quarter, MicroStrategy bought about $361.4 million in bitcoin, the largest single-quarter purchase since the end of 2021. Since June 30, MicroStrategy has bought 467 bitcoins, according to a statement Tuesday. As of July 31, the company held approximately 152,000 bitcoins.

Cryptocurrencies have resumed their upward momentum this year. Bitcoin rose 72% in the first quarter, and rose another 7% in the second quarter on the basis of the previous quarter.