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.

Nan yon anons Madi, konpayi an te revele tou ke Michael Saylor, ki te sèvi kòm Direktè Egzekitif ak Prezidan Komisyon Konsèy la depi li te fonde MicroStrategy an 1989 epi li te fè piblik la an 1998, t ap demisyone pou l asime yon nouvo wòl kòm Prezidan Egzekitif. Phong Le, ki te sèvi kòm prezidan depi 2020, pami lòt pozisyon egzekitif, ta ranplase Saylor kòm Prezidan ak Direktè Egzekitif.

"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.” Saylor di. “As Executive Chairman I will be able to focus more on our bitcoin estrateji akizisyon ak ki gen rapò 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 pozisyon.

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. “nou gen plis pase ase garanti pou nenpòt volatilité pri," te di Kang.

Depi konpayi an te kòmanse achte lajan kript la nan 2020, li te kontinye 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, jete apeprè 75% nan aksyon li yo pou kenbe operasyon konpayi an ap flote. Michael Saylor te, sepandan, kenbe yo pa gen okenn entansyon pou vann pyès monnen yo epi yo pral kontinye achte plis kòm koule lajan kach pèmèt. 

Kòm nan ekri, Bitcoin is at $23,056 after a 1.90% increase in the past 24 hours based on data from CoinMarketCap.

Sous orijinal: ZyCrypto