2 years ago
Nelson Wang is CoinDesk's quality exertion for the East Coast. He holds BTC and ETH supra CoinDesk's disclosure threshold of $1,000.
MicroStrategy (MSTR) took a non-cash integer plus impairment complaint of $170.1 cardinal successful the archetypal quarter, up from $146.6 cardinal successful the 4th quarter, according to its latest net report.
The impairment reflects the diminution successful the terms of bitcoin versus the terms astatine which the bitcoin was acquired. Under modular accounting rules, the worth of integer assets specified arsenic cryptocurrencies indispensable beryllium recorded astatine their outgo and past lone adjusted if their worth is impaired, oregon goes down. But if the terms rises, that does not get reported unless an plus is sold.
For 2021, MicroStrategy posted full integer plus impairment losses of $831 million, versus $71 cardinal successful 2020.
The company's 129,218 bitcoins held astatine the extremity of March 31, 2022, were acquired for $3.97 billion, reflecting an mean outgo per bitcoin of astir $30,700, the institution reported. At bitcoin’s existent terms of astir $37,662, the worth of those holdings is astir $4.9 billion.
Led by bitcoin maximalist Michael Saylor, MicroStrategy has continued to accumulate bitcoin astatine a accelerated pace. At the extremity of March, MicroStrategy secured a $205 cardinal indebtedness from Silvergate Bank (SI) backed by its existing bitcoin holdings to perchance bargain much bitcoin.
MicroStrategy shares were down astir 1.5% to $338.17 successful after-hours trading Tuesday. Shares person fallen astir 37% twelvemonth to date.
The institution volition beryllium hosting an net telephone with analysts astatine 5 p.m. ET.
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Nelson Wang is CoinDesk's quality exertion for the East Coast. He holds BTC and ETH supra CoinDesk's disclosure threshold of $1,000.
Nelson Wang is CoinDesk's quality exertion for the East Coast. He holds BTC and ETH supra CoinDesk's disclosure threshold of $1,000.
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