MicroStrategy, a business intelligence firm led by Michael Saylor, has recently announced its Q2 earnings report, highlighting a net income of $22.2 million. This figure represents a significant increase from the previous year's loss of $1.2 billion.

The company has also unveiled its intention to purchase additional Bitcoins, planning to raise approximately $750 million through stock sales. Currently, MicroStrategy's portfolio holds a total of 152,800 BTC, valued at $4.53 billion.

In the second quarterly earnings report, the firm noted a substantial jump in net income, contrasting sharply with last year's loss of $1.1 billion. The company's commitment to strengthening its Bitcoin portfolio has been evident, and the recent announcement has led to a noticeable increase in the cryptocurrency's value.

According to a filing with the Securities and Exchange Commission (SEC), MicroStrategy plans to sell class A common stock worth up to $750,000,000 to further invest in Bitcoin. This move aligns with the company's ongoing strategy to enhance its cryptocurrency holdings.