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 se faʻasalalauga i le Aso Lua, na faʻaalia ai foi e le kamupani o Michael Saylor, o le sa avea ma Ofisa Sili o Pulega ma le Taitaifono o le Komiti Faatino talu mai le faavaeina o le MicroStrategy i le 1989 ma faʻasalalau i le lautele i le 1998, o loʻo faʻamavae i lalo e tauaveina se matafaioi fou o le Taitaifono. O Phong Le, o le sa avea ma peresitene talu mai le 2020, faatasi ai ma isi tofiga faʻapitoa, o le a suitulaga ia Saylor e avea ma Peresetene ma Ofisa Sili o Pulega.

"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.” Fai mai 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 Tulaga.

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. “e sili atu a matou fa'amaoniga mo so'o se tau fe'avea'i,” o le tala lea a Kang.

Talu ona amata faʻatau e le kamupani le cryptocurrency i le 2020, o loʻo faʻaauau pea fa'atau atili 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 umia, lafoa'i pe tusa ma le 75% o ana meatotino e fa’aolaola ai galuega a le kamupani. O Michael Saylor, e ui i lea, na tumau pea e leai so latou faʻamoemoe e faʻatau atu a latou tupe siliva ma o le a faʻaauau pea ona faʻatau atili pe a faʻatagaina tupe. 

E pei o tusitusiga, Bitcoin is at $23,056 after a 1.90% increase in the past 24 hours based on data from CoinMarketCap.

Punavai autu: ZyCrypto