MicroStrategy Takes A $917 Million Impairment Loss On Its Bitcoin Stash As Crypto Prices Tumble

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MicroStrategy Takes A $917 Million Impairment Loss On Its Bitcoin Stash As Crypto Prices Tumble

MicroStrategy, the largest bitcoin holding-publicly-traded company in the world, took a non-cash digital asset impairment charge in the third quarter, up from $424 million in the second quarter, the latest filings have shown.

In 'n Dinsdag-aankondiging het die maatskappy ook onthul dat Michael Saylor, wat as Hoof Uitvoerende Beampte en Voorsitter van die Direksie gedien het sedert hy MicroStrategy in 1989 gestig het en dit in 1998 bekend gemaak het, gaan uittree om 'n nuwe rol as Uitvoerende Voorsitter te aanvaar. Phong Le, wat onder meer sedert 2020 as president gedien het, sal Saylor as President en Hoof Uitvoerende Beampte vervang.

"I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business.” Het Saylor gesê. “As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations.”

The latest filing and subsequent shake-up in the company’s top leadership come on the heels of the company falling in the red on its Bitcoin stash following a brutal crypto winter. Nevertheless, Michael Saylor has maintained that the company is ready to face the challenging market conditions and defend its Bitcoin posisie.

MicroStrategy’s CFO Andrew Kang echoed those sentiments in an earnings conference call, stating that the company has about 85,000 unpledged Bitcoin available should its obligations to Silvergate bank fall due. “ons het meer as voldoende sekuriteit vir enige prysonbestendigheid,” het Kang gesê.

Sedert die maatskappy die kripto-geldeenheid in 2020 begin koop het, het dit voortgegaan koop meer Bitcoin, with the total stash value swelling to about $8 billion when BTC tapped $68,000 in November 2021. As of writing, it holds some 129,699 bitcoins with an average cost of $30,664 per bitcoin. However, the market value of those holdings has dropped to roughly $3.03 billion today, with BTC plunging hard in the past ten months.

Last month, Tesla, another prominent company with sizeable Bitcoin hoewes, ongeveer 75% gestort van sy besit om die maatskappy se bedrywighede aan die gang te hou. Michael Saylor het egter volgehou hulle is nie van plan om hul munte te verkoop nie en sal voortgaan om meer te koop soos kontantvloei dit toelaat. 

Soos dit geskryf is, Bitcoin is at $23,056 after a 1.90% increase in the past 24 hours based on data from CoinMarketCap.

Oorspronklike bron: ZyCrypto