SEC rejects MicroStrategy's Bitcoin accounting practices: report
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....
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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.....
The Financial Accounting Standards Board received hundreds of letters inspired by MicroStrategy that urge U.S. accounting standards be reconsidered to accommodate companies that hold Bitcoin.
Software developer MicroStrategy is set to revamp its reporting of Bitcoin (BTC) holdings each quarter, thanks to a recent decision by the Financial Accounting Standards Board (FASB). Greater transparency into their financial health will be possible owing to this reform, which will permit businesses like MicroStrategy to declare the fair value of their Bitcoin holdings […]
As of Sept. 30, MicroStrategy held 114,042 BTC at an average purchasing price of $27,713. MicroStrategy added almost 9,000 Bitcoin to its holdings in Q3, bringing its total BTC stash to a valuation of around $7 billion. The company highlighted the purchase of 8,957 BTC in its Q3 report on Oct. 28, with the firm’s perma-bull CEO Michael Saylor stating that there is more BTC accumulation to come:“Today, MicroStrategy is the world’s largest publicly traded corporate owner of Bitcoin with over 114,000 Bitcoins. We will continue to evaluate opportunities to raise additional capital to execute....
The business intelligence firm now owns a total of 129,218 BTC. On Tuesday, enterprise software development firm MicroStrategy announced via a filing with the U.S. Securities and Exchange Commission (SEC) that its subsidiary MacroStrategy acquired 4,197 Bitcoin (BTC) ($190.5 million) between February 15 and Tuesday.MacroStrategy has purchased an additional 4,167 bitcoins for ~$190.5 million at an average price of ~$45,714 per #bitcoin. As of 4/4/22 MicroStrategy #hodls ~129,218 bitcoins acquired for ~$3.97 billion at an average price of ~$30,700 per bitcoin.....