Microstrategy lost $146M to Bitcoin impairment charges in Q4 2021
MicroStrategy currently holds a total of 125,051 BTC acquired for $3.78 billion at an average price of $30,200 per Bitcoin. MicroStrategy, the fortune 500 company with a 125,051 Bitcoin (BTC)-strong treasury, announced its Q4 2021 financial results on Feb. 2.The institutional software solution provider reported a net loss of $146.6 million incurred in impairment charges on its Bitcoin holdings. The high impairment losses added to the company’s operating expenses which saw a 125% increase at $248 million as compared to the same quarter last year.An impairment loss is a recognized reduction....
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The world’s largest corporate holder of Bitcoin has reduced its losses compared to previous earnings as its CEO says it will continue to buy and hold Bitcoin long term. The third quarter earnings for business intelligence firm MicroStrategy revealed a narrowed net loss of $27.1 million for the quarter, while it continues to grow its Bitcoin (BTC) portfolio despite poor crypto market conditions.The world's largest publicly traded corporate Bitcoin owner confirmed it still owns 130,000 BTC at the end of Q3 2022. That amount represents 0.62% of all Bitcoin that will ever be owned, which it....
As of June 30, 2021 MicoStrategy held an approximated 105,085 BTC with a carrying value of $2.051 billion, at a total impairment loss of $689.6 million since acquisition of the digital asset. Business intelligence and mobile software firm MicroStrategy has pledged to buy more Bitcoin despite reporting impairment losses of $424.8 million in Q2. This is only a paper loss however based on the price of Bitcoin at the end of the quarter and does not reflect a realized loss. Depending on how you add the figures up, MicroStrategy appears to have made nearly a billion dollars more from Bitcoin....
The business intelligence firm has reported it used non-GAAP methods of calculating figures for its BTC buys excluding the “impact of share-based compensation expense and impairment losses and gains on sale from intangible assets." Business intelligence firm MicroStrategy reportedly acted contrary to the Securities and Exchange Commission’s accounting practices for its crypto purchases.According to a Bloomberg report, a comment letter from the SEC released Thursday showed the regulatory body objected to MicroStrategy reporting information related to its Bitcoin (BTC) purchases based on....
Tesla recorded $101 million of impairment losses on Bitcoin in 2021, with the carrying value accounting for $1.26 billion. Elon Musk’s electric vehicle maker Tesla was holding about $2 billion worth of Bitcoin (BTC) by the end of 2021, according to official records.The “fair market value” of BTC held by Tesla as of Dec. 31, 2021, was $1.99 billion, the company said on Friday in its annual filing with the United States Securities and Exchange Commission.The filing reads that Tesla sold a portion of its BTC holdings in March 2021, with realized gains of $128 million. The company previously....
MicroStrategy bought significantly less BTC in January than in previous months, according to official data. Major Bitcoin (BTC) investor MicroStrategy has announced another major BTC purchase during a market dip to collect a total of 125,051 BTC as of Monday.According to an official form with the United States Securities and Exchange Commission (SEC) filed on Tuesday, MicroStrategy purchased 660 BTC between Dec. 30, 2021, and Jan. 31 for “approximately $25 million” in cash.The average BTC price of the purchase amounted to $37,865 per BTC, including fees and expenses, the report notes.....