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

Per ZyCrypto - fa 1 any - Temps de lectura: 2 minuts

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.

En un anunci de dimarts, la companyia també va revelar que Michael Saylor, que ha ocupat el càrrec de conseller delegat i president del consell des que va fundar MicroStrategy el 1989 i la va fer pública el 1998, renunciava per assumir un nou paper com a president executiu. Phong Le, que ocupa el càrrec de president des del 2020, entre altres càrrecs executius, substituiria Saylor com a president i conseller delegat.

"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.” Va dir Saylor. “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 posició.

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. “tenim garantia més que suficient per a qualsevol volatilitat dels preus", va dir Kang.

Des que l'empresa va començar a comprar la criptomoneda el 2020, ho ha continuat fent buy more 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 explotacions, abocat al voltant del 75% de les seves participacions per mantenir a flot les operacions de l'empresa. Michael Saylor, però, ha mantingut que no tenen cap intenció de vendre les seves monedes i que continuaran comprant-ne més quan els fluxos d'efectiu ho permetin. 

A l’hora d’escriure, Bitcoin is at $23,056 after a 1.90% increase in the past 24 hours based on data from CoinMarketCap.

Font original: ZyCrypto