2 years ago
MicroStrategy recorded an impairment charge of $918 cardinal connected its Bitcoin (BTC) holdings successful the 2nd quarter, according to its earnings report released connected August 2.
The study besides revealed that the institution volition make a caller relation of enforcement chairman, which Michael Saylor volition fill.
Meanwhile, Phong Le, the company’s president and main fiscal officer, volition go the caller CEO taking implicit from Saylor, portion remaining president Andrew Kang volition go the caller Chief Financial Officer.
MicroStrategy’s Bitcoin holding
The concern quality steadfast holds 129,699 Bitcoins and is valued astatine $1.988 cardinal arsenic of June 30.
According to the firm, this reflects a cumulative impairment nonaccomplishment of $1.989 cardinal since it began its Bitcoin acquisitions successful 2020. The steadfast stated that its mean outgo per bitcoin is astir $30,664.
Meanwhile, the institution has maintained that it would continue to hodl its Bitcoins contempt the losses incurred.
Since MicroStrategy’s Bitcoin adoption, its banal has outperformed Nasdaq, Gold, Silver, and adjacent the banal show of immoderate of the biggest tech companies similar Google, Meta, Netflix, Microsoft, etc.
Source: MicroStrategyMichael Saylor to go caller enforcement chairman
Michael Saylor revealed that helium would beryllium stepping down arsenic MicroStrategy’s CEO during the net call.
Saylor added that helium volition present beryllium capable to absorption connected accumulating much cryptocurrency for the institution successful his caller role. Saylor said:
“As Executive Chairman I volition beryllium capable to absorption much connected our bitcoin acquisition strategy and related bitcoin advocacy initiatives, portion Phong volition beryllium empowered arsenic CEO to negociate wide firm operations.”
Short positions connected MicroStrategy’s shares
Bloomberg News reported that abbreviated positions connected Microstrategy banal had grown recently.
According to the report, 51% of MicroStrategy’s disposable shares are sold abbreviated and are worthy astir $1.4 billion.
The study continued that the abbreviated positions roseate by 680,000 shares successful the past 7 days and by 1.2 cardinal shares implicit the past 30 days.
The station MicroStrategy records $918M impairment nonaccomplishment successful Q2, Saylor moves to caller Chairman role appeared archetypal connected CryptoSlate.
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