Saylor's Strategy Faces Q2 Earnings Test Amid Bitcoin Declines

Michael Saylor's company, Strategy Inc., will report its Q2 earnings on Thursday. Analysts predict a loss of $2.19 per share for the Bitcoin-holding giant.

The company is expected to announce quarterly revenue of $121.88 million, up 6.40% from last year. Strategy's stock has a consensus price target of $360 and a 'Buy' rating, implying a potential upside of 294.2% from current levels.

However, the MSTR stock is showing a rising bearish outlook with short interest at 12.70% of total float. Despite this, the Moving Average Convergence Divergence indicator flashed a 'Buy' signal for MSTR, and the Relative Strength Index hovered just below 40, indicating a Neutral condition.

Strategy holds 843,775 BTC valued at over $55 billion, with paper losses exceeding $8 billion due to Bitcoin's decline in Q2. The company halted Bitcoin purchases for a month and sold 3,620 BTC to bolster its cash reserve to $3.225 billion.