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Some of the information we provide during today's call regarding our future expectations, plans, and prospects may constitute forward-looking statements. Bitcoin ETPs also benefit from this, offset by the managementfees that are charged for those products. So, we are a publiccompany and an operating company.
data center REIT as a well-positioned but poorly trading publiccompany with tremendous long-term potential. Our BREIT, BIP Infrastructure, and BPP perpetual strategies acquired the company for $10 billion in 2021, and its lease capacity has already grown sixfold in less than three years. billion or $0.95
As you think about all these comments, we're super excited where we are with the business and the prospects for the future. At NewRez, our mortgage company, Baron and the team did a great job during the quarter. This was anchored by a commitment from Rithm. In the quarter, we priced two CLOs, one in Europe and one in the U.S.
Some of the information we provide during today's call regarding our future expectations, plans, and prospects may constitute forward-looking statements. As customers and prospects move to the cloud to empower their AI-driven digital transformations, we expect a decrease in product license revenues.
Some of the information we provide during today's call regarding our future expectations, plans and prospects may constitute forward-looking statements. Management uses BTC to evaluate capital allocation decisions and to measure the achievement of our strategy. And what does the company do? It prospects and drills.
As a reminder, in April of 2021, our company entered into a limited partnership agreement with Pelion Ventures in Draper, Utah, to manage the Medici portfolio. This partnership came with an annual managementfee, in addition to upside deal economics, in exchange for them nurturing these companies and building value.
We continue to strive as we have from the very beginning, to be as transparent and detailed as we can about our business and prospects, especially in the context of ongoing challenges in the macro economy that we are all experiencing and in the regulated cannabis industry in particular, which we have noted in the past several calls.
Some of the information we provide during today's call regarding our future expectations, plans, and prospects may constitute forward-looking statements. I'll be your moderator for MicroStrategy's 2024 second-quarter earnings webinar. Before we proceed, I will read the Safe Harbor statement. But we think it's pretty clear.
publiccompany by market cap, exceeding the market value of all other asset managers. and our prospects are very strong. We believe investors experience of receiving double the public REIT market over the past seven years with this semi-liquid structure is proof of concept. Fee related earnings were $4.3
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