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.

I roto i te panui o te Paraire, i whakaatu ano te kamupene ko Michael Saylor, nana nei i mahi hei Tumuaki Kaiwhakahaere me te Tiamana o te Poari mai i te whakaturanga o MicroStrategy i te 1989 me te kawe i te iwi whanui i te tau 1998, i heke iho ki te kawe i tetahi mahi hou hei Tiamana Whakahaere. Ko Phong Le, kua noho hei perehitini mai i te tau 2020, i roto i etahi atu tuunga whakahaere, ka whakakapi a Saylor hei Perehitini me te Tumuaki Kaiwhakahaere.

"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.” Ka mea a 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 Tūranga.

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. “he nui ake a matou i te rawaka mo te whiti utu,” ta Kang.

Mai i te tiimata o te kamupene ki te hoko i te cryptocurrency i te 2020, kei te haere tonu 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 nga pupuri, i tukuna mo te 75% o ana pupuri kia mau tonu nga mahi a te kamupene. Heoi, i kii a Michael Saylor kaore o raatau hiahia ki te hoko i a raatau moni, ka haere tonu te hoko mai i te wa e whakaaehia ana e nga moni putea. 

Ka rite ki te tuhituhi, Bitcoin is at $23,056 after a 1.90% increase in the past 24 hours based on data from CoinMarketCap.

Kuputuhi taketake: ZyCrypto