Strategy Reports Significant Loss Due To Bitcoin Impairment

According to Odaily, Bitcoin investment firm Strategy, formerly known as MicroStrategy, reported a net loss for the fiscal year 2024 due to a $1.79 billion impairment loss on digital assets. The company's 10-K annual report, submitted on February 18, highlights concerns about its ability to return to profitability if Bitcoin's market value significantly declines. Additionally, Strategy warned that such a downturn could affect its capacity to meet financial obligations. Under the Inflation Reduction Act, the unrealized fair value gains of its Bitcoin holdings may be subject to a 15% corporate alternative minimum tax (CAMT).