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.

Dina pengumuman Salasa, perusahaan ogé ngungkabkeun yén Michael Saylor, anu parantos ngajabat salaku Kapala Eksekutif sareng Pupuhu Déwan saprak ngadegkeun MicroStrategy di 1989 sareng nyandak éta umum di 1998, mundur pikeun nyandak peran anyar salaku Pupuhu Eksekutif. Phong Le, anu parantos janten présidén ti saprak 2020, diantara jabatan eksekutif anu sanés, bakal ngagentos Saylor salaku Présidén & Kapala Eksekutif.

"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.” ceuk Saylor. “As Executive Chairman I will be able to focus more on our bitcoin strategi akuisisi sarta patali 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 posisi.

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. “urang boga leuwih ti jaminan cukup pikeun sagala volatility harga,” ceuk Kang.

Kusabab perusahaan mimiti mésér cryptocurrency di 2020, éta terus meuli deui 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 ditahan, dibuang kira-kira 75% milikna pikeun ngajaga operasi perusahaan ngambang. Michael Saylor geus kitu, mertahankeun maranéhna teu boga niat ngajual koin maranéhanana sarta bakal neruskeun purchasing leuwih sakumaha diturutan aliran tunai. 

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

sumber aslina: ZyCrypto