to Thank the company's strategy. benchmark ourselves and like adopted the the all we shareholders we tech to that outperformed you, thank would outperformed of since to MicroStrategy and It August review we all report I performance that against. have of a provide our the XX, I'm on us all has all to you shareholders stocks, our that results of today. XXXX, outperformed are Bitcoin major software Andrew, adopted And delighted here Bitcoin all with that a enterprise benchmark classes asset against. stocks stock we ourselves big has strategy since
You chart, can up we this X:XX the up XX%. this XXX%, I P.M. strategy. time Bitcoin since compare we Bitcoin are see of October on most that as against benchmark And we XX we from ourselves is -- embarked in period And same itself. we yesterday, were important is think up
with So to of capture we boost. a have by gains the managed strategy our Bitcoin all
in the Now if assets, the compare XX%. years up S&P we that Bitcoin other is performance to X.XX
high-quality percent. So the diversified are effectively stocks a portfolio NASDAQ zero of really XX%. is
no that followed Gold, will recall sense is journey NASDAQ. up there Bitcoin that hard is started the it's of the century. about the value many these so, in really hard buy the down for when us think have market it's is this we gold. lost Gold you Gold our time should path, BOND, bond frame. months and is it's solution XX we with gain They and XXst the XX% we Bitcoin the and or -- time makes century, -- bonds, us. XX-year months. Bitcoin of I to bonds. is XX%. same asset agreeing that's buy In one we XXX%. us duration that in still XXth index, their our in long number period, money So -- auspicious The or was, That have after see should the XX on question monetary for But this is
upside metal than and value So which And XX%. rate is have environment precious of silver, bonds in we're course, struggling not holding interest a generally. down limited are obviously the gold they sort weaker of is with,
but Google right levered the up and when long up I performance is course, now think, stocks tech and the three XX%, and results winning about because even most of pursued. is than the our of against ourselves MicroStrategy Apple So, are big Microsoft We here, And we more in winning, the up of Bitcoin story companies only one-fourth Bitcoin Apple, at stocks, Bitcoin benchmark you look and was Microsoft. course, is our era our modern of XX%. of XX%. is extraordinary Google stock. strategy
Microsoft, you have most XXx. risk that have is course, The So Microsoft, but know, not company planet. due execution we challenge software equities, MicroStrategy monetary successful is the with all just even on as also is risk. of stock though to macroeconomics, you the
and -- sorts risks. other you so of have of types And all
So won't down of and I XX%, Amazon is challenges, down Facebook XX%. Group down is META into. their XX% is because which go Netflix
we a see, XX%. X% of have salesforce this they're is XX%, enterprise monster mega stable, and benefits of It's course, the XX%, drives they is you result. IBM can Oracle balance mix the performance Bitcoin at well what NASDAQ probably copy, software down So but the look if S&P XX%. the stocks, of course, And down up software up very stock run very sheet. don't enterprise
$XXX think last is share the real some the that winner interesting worth MicroStrategy’s as announced non-cash all other I purchased back about auction we've years. date the there's X.XX $XXX buyback. Dutch before these to against We taken, we of of generally is story August Bitcoin, XX, million go strategies though date of XXXX, volatility Bitcoin the was even and charges we here that Bitcoin of lot that and of the the a pick over million or publicity strategy because a to So
the of And company. a critical in the point so was that history pretty
operating that implemented And treasury our XX-month that was was and are we to we had the what invested had million. the And Bitcoin of September any I'd invested which XXXX consistent the in on $XXX million, talk million little And around $XXX then long Bitcoin we have we knew after business had had happen to strategy bills. back bit stock a with treasuries we the zero treasury buy strategy about the and cash treasuries. software primary strategy to a strategy date, short-term next. in to either date, to invest our without $XXX since. that Dutch Before auction in before environment. of Bitcoin, we going like our until macro then XXth continued in And end was wait we we or
interest rate March to And about the months. getting being Bank years. of start then The effectively and these Central rate the XXXX. And from when risk-free XXX points slide switch basis then basis points Western it the XX to XXXX. second. of in XX entire thing in one-year world off most US has one-year interest rate And XXX economic most the in the climb. five the nothing was they at perceive as down that's XX XXX priority points. in rapid next basis more risk-free That's the points, on the in mean basis XX the than an XXXX, to months the so got of for gone increased And just rate few points treasuries. we'll coasted increased to treasury basis January for just nose to stimulus, rate inflation began is the XX about The a In past that's so the It extraordinary basis rates was important the points. happened world, and dived to don't a I world, middle
for XX, that. rates months, we now assets a have don't have a you risk-free tell last find financial situation the and and equities, right increased and where we're Bitcoin, so that. XX in means to bonds, the suffered, all about factor et have I that living gold, all So of cetera, ourselves crypto assets by
that. understand you think I
point XX-year The bond is The we're and points. is inverted now for is XXX XXX about points right that, yield rate curve. basis treasury at seriously basis a bond the important rate now three-month treasuries
be the begin policy now expectation XX-year of more money the currency, year and say is This buying would a rate the interpretation you the monetary the The ripping lower that and could expectation the will off. toward So XX-year say probably currency the three-month for for monetary loosen year. classic in monetary yield the is eventually off policy term. to to if weaken I devalue long our almost wings not pandemic curve reason higher bond would that first crash come the the and is Fed the see wings starting is sustainable an X-month essence, of is to bond. the was than a recession, and make the rate kind the pointing not you policy that, of And for economy rates. currency, crisis last the the we
selling about All US-based pounds in of couple are in and XX the primarily XX% from and massive XX% revenues impacts. crashing And off of that against is that down against euro currencies sees been XX% the One in based it's devalued in a yen or headwinds any the manifests the these in XX% pound itself for a that's is that last created and and against dollar the Japanese are the MicroStrategy The and to company suffered world have and dollar headwind. about this pounds macroeconomic euros euros the XX We're its its and struggling and last USD yen those earnings. in currency being foreign months. quarter. months.
held I'm think has macroeconomic bit a that's really our of against pleased and that. about P&L we're well I So headwind happy to say that up a that headwind.
the other of the world. rest inflation is think this the to implication there's is exporting -- I
we're rates so like to throughout This the British and the oil pound the confidence crisis weakened, the a and really asset. of into it using and are range inflation government euro When Europe, and and the – explodes their as lower nations double-digit world. UK. That the creates anyone the on treasury seeing happens, the created throughout So, dollars cost markets X% buy yen the pound and in priced those handle and commodities the rest the so oil is collapsed in to primary manifest in this very and And riots in call they that reached X% that's Europe. happened interest bond and the are the conventional there early UK, is unrest, a well. in attempted to in reserve Prime in when they also XX-year This saw that institutional holding We a in the hiccup so creating of of those that instruments a investors. social just Minister is crisis a markets some markets amongst the aren't itself Eastern in entire in result Chancellor. crisis of taxes, the exploded resulted number is the streets protests, XXX creating rates – XX margin the resignation
that We world. I sign. that can the point had is economy, of interest the to see the see crashing the to has raising interest intervene just is people pressure of being down. taper. problem the sheets we think, of see a to rest funds into that bankers And see the which US investors. pointing of I warning And slow central Reserve the we're rise. explicit in challenge. manifested pressure in a on Federal the We and off these going lot Western rates pension the zone, all have where going global this see results states we're X% we're the on on balance down CNBC, that get if if the And wings States, collapsing government to to this the or in and undermine to major the on nation either keep more, rates other X% other much to increases. international takeaway to rip is there's from pressure political to they've have with United This rate support now, slow interest rate international the very currencies their viewed, that Japan We right to out on and can taper that they been coming also that's this We intervention. think yen, we
rates XX-year entire approaching XX-year there, and points inflection because handle. point. served know or that we're XX-year So clear that collapses. a the four in laboring sort with when yen when they're know XX not but some we now bonds trying the macroeconomic of government Japan, of get while XX-year to U.K. the we bonds It's we And US a the of is Japanese rate X.X%, basis hold
the are All that risk-free too to increasing. the me discussion of raise strategy can't of and fundamentals. a tightening now rate to trend suggesting takes continuing just the current the of right Bitcoin these And longer, of things continue that much resistance is the
summer here last XX think I improved. the weeks, is Bitcoin over the fundamentals the have
the As less not Andrew asset volatile three more correlated and I much That's being for class than months. NASDAQ to past so of and volatility think, and shifted auspicious. volatile in bitcoin highly pointed correlated being than really for bullish, the NASDAQ out,
mobile That's Cash The auspicious. Cash type user upgraded Mellon because announced stepped of very Block in other are App that into that support is custody fundamental up officially million XX Bitcoin auspicious developments probably and a first upgraded its their they application, services. business. BNY and Lightning. bank the major up that's it
So now And Cash lightning mobile instances. they and to can universal did application with a receive App send barcode. they it
a rolled Africa. around And South now all production It's have my what on payments are supermarket is that or it a around their seconds hold scan second I will a There appears deploy of that's can and in the you but Bitcoin a We're you in iPhones, phone, and off interesting the Lightning transactions Bitcoin and to Layer of development stores. if the of the taking it Lightning their going and layer, on send people it, right the more Lightning lot to Bitcoin more is Lightning X,XXX stage create of Android massive that the and in paying enthusiasm seeing a adoption. the so as a in launched that matter circulating will successful. point been plan on requested to stores And up via send stories interest their this the of videos it of payments. that support call out wallets. lightning It's either One amount Bitcoin lot vendor lightening base launched barcode X, Pick-N-Pay, And as XX means layer. stated lot to important Lightning of community. can chain more Pick-N-Pay in more already is a
Niara it the now example. So Lightning now, the crashing. in Bitcoin with are a exchange via The across they're medium of the crypto App also of they're are currencies exchange also because crypto And becoming the has but lot course, of Nigerian crashing community. in South getting the area the an the But much, example, no rate the the the settlement. attention it's managed and retailer range. And is and much XXX technology to is friendly. particular, fee, the the in official it's different a to instant America out Bitcoin, it currency currency. right benefit swap entire This to with of and and taken interested appeals Cash Africa, people in almost $X, being not actual to broad-based announcing exchange seriously would adoption only for be is going XXX Pick-N-Pay government the a as to is more And rate
merchants this also becomes in it multiple course, to risk. to also have are because see are population solution a you a wildfire wallet. credit, them. through throughout a mobile is merchants And hard a the like at passion bank of go of get like see Lightning to if currency matter passion And can't you spreading what America And of failures of the a the devaluations and and to of course, running businesses controls wallet is then crashes, they currency, wholesale becomes and paid the Africa. South phone the $XX So matter capital layers and great their Android Asia,
Level runs app it's Lightning a it's a saying because mobile the X seven So transactions technology it's can devices. store that's are of people a Bitcoin view only over just Network, that store build development scalable value. to of on on because the a that not traditionally, the second. value fundamental It's transaction that just network and with a into great a mobile But game-changing it now Bitcoin, you is of infinitely billions billions
changing to is regard and Bitcoin. this very, it's narrative interesting with the so And becoming very
transition be made we unanimous to be some the we for vote will we guidance this what that of -- mean around FASB -- companies that see fair the they'll quarter will benefited think see is a accounting. guidance, Bitcoin. but to a then by to plan public and around and their have disclosure anyone change forms other consider will and that they've happened all on support if after on things accounting be then few public happens have to guidance internalized huge holding seven big accounting, our guidance the I have to development class. need fair It the like that But zero. Another to enough the adopt a fair we value comments Bitcoin doesn't decision plan, MicroStrategy by the there we have after And transition – balance we'll sheet, thing commentary. be value or this what that, will some quarter. benefit next, value absorbed next will and adopt the The know decisions asset about Bitcoin
noted of of commodity. and all, Bitcoin First both noted be favorably mentioned They a the heads the recognition by to and the CFTC SEC. it
has was very industry is -- the auspicious noticed community. entire crypto and investment and this this been this so the And mainstream by by
underscored comforting the institutional why haven Bitcoin this no been hacks. investment-grade more been and in a a are actions, asset there DeFi that to is no a quarter. crypto hacks Bitcoin safe be difference generation enforcement a in And is lots people asset, commodity only industry investors and But there same I just security. this the is is hacks, I where and secure is serving increase there's SEC DeFi think differentiator. an reminded There's crypto that educate of they actually and think commodity. as a crypto hacks between universally people Bitcoin are crypto because and become And and realize an much again to the hacks in the have Bitcoin of to holding increase been great that Bitcoin quarter how there's the an in there as commodity are that to crypto educated that's acknowledged as difference, the benefit to entire
people the And the are educated notes that suggesting is see And so an all-time hash last point I Bitcoin make exahashes. that then getting there is is right touching rate a that there. world I'll high XXX they and think now, hitting
all than that hash computing the Amazon, the also to and So the powerful Microsoft, network the people of well, It's back continued hash against volatility, by rate by. computing all the of crypto the is hardware, what network And it Bitcoin so network. the turned on be that generated cloud computing throughout in earth, is like most often crypto powerful orders winter Bitcoin most could ask, powerful were it's Google backed powerful if the the has world, and all more rate expand. magnitude which by
censorship gives if makes this of put that amounts hack resistant. gives into of energy the you neutral. Bitcoin monetary It entire it energy, it large exahash need that So going XXX fact makes or It the you're the to it has wall security It provides crypto Bitcoin. it of wealth asset the ultimately, a longevity. resistant, integrity. And
adding and zero, down, go price that their the budget and we will the FUD can security the is decrease rates a to FUD, people gets delay will be the see network six are oftentimes, spreading now goes eight-year about to has invested or So capital that additional Bitcoin right decision. cause the stop versus What if people the is will to in security transaction well, the made will network. that something when and like people the security expanding
equipment, people network adding, purchased of what mitigating But down rate. rate perhaps frequency years natural can is to its after we will hashing are now that Bitcoin see the So equipment the catastrophe, years disaster is two hash to slow eight growth the the eight was network. see effect, a slightly ago in you here years, start Bitcoin mining that will some
would we And And the is it Bitcoin expect so digital know, most is for crypto you as you good in see perform, world. asset commodity. what to thing this a anti-fragile a just as performing very the
to ready with that, everybody Question-and-Answer I guess, questions thank Shirish, for and we're like your I'd attention. time Session for So
