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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.
Sa usa ka Martes nga anunsyo, gipadayag usab sa kompanya nga si Michael Saylor, nga nagserbisyo isip Chief Executive Officer ug Chairman sa Lupon sukad sa pagtukod sa MicroStrategy kaniadtong 1989 ug gipahibalo kini sa publiko kaniadtong 1998, mi-resign aron sa pag-angkon sa usa ka bag-ong tahas isip Executive Chairman. Si Phong Le, kinsa nagserbisyo isip presidente sukad sa 2020, lakip sa ubang mga posisyon sa ehekutibo, mopuli kang Saylor isip Presidente ug Chief Executive Officer.
"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.” Matud ni 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 Posisyon.
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. “kita adunay labaw pa kay sa igo nga collateral alang sa bisan unsa nga presyo volatility,” ni Kang.
Sukad nga gisugdan sa kompanya ang pagpalit sa cryptocurrency kaniadtong 2020, nagpadayon kini 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 holdings, gilabay mga 75% sa mga kabtangan niini aron mapadayon ang operasyon sa kompanya. Si Michael Saylor, bisan pa, nagpabilin nga wala silay katuyoan nga ibaligya ang ilang mga sensilyo ug magpadayon sa pagpalit og dugang kung gitugutan ang mga cash flow.
Ingon sa pagsulat, Bitcoin is at $23,056 after a 1.90% increase in the past 24 hours based on data from CoinMarketCap.
Ang orihinal nga tinubdan: ZyCrypto