Strategy Reports Q4 Loss Due To Bitcoin Impairment

According to Odaily, Strategy, formerly known as MicroStrategy, reported a net loss of $3.03 per share for the fourth quarter of 2024, contrasting with earnings of $0.50 per share in the same period the previous year. The loss was attributed to impairment charges on the company's Bitcoin holdings. As of December 31, 2024, Strategy held 447,470 Bitcoins, surpassing market expectations of 425,149. Recently, the company completed a series of Bitcoin purchases, bringing its total holdings to 471,107 Bitcoins, valued at approximately $45 billion. The Financial Accounting Standards Board (FASB) in the United States introduced a new fair value accounting rule for companies holding digital assets last year. While its application was voluntary until the end of 2024, it became mandatory starting the first quarter of this year.