Odaily Planet Daily News According to the latest financial report released by MicroStrategy on Tuesday, the company made an impairment charge of US$24.1 million for its Bitcoin holdings in the second quarter, compared with US$917.8 million in the same period last year and US$18.9 million in the first quarter of this year. Dollar. The company's digital asset impairment reflects the decline in the price of bitcoin relative to the bitcoin acquisition price.
Andrew Kang, MicroStrategy's chief financial officer, said in a statement: "As of July 31, 2023, our Bitcoin holdings increased to 152,800, of which 12,333 were added in the second quarter of this year, the highest since 2021. Largest single-quarter increase since Q2. We effectively raised capital through our market equity program and continued to grow bitcoin on our balance sheet using cash from operations. We did this against the backdrop of growing institutional interest, Accounting transparency is progressing, and the regulation of Bitcoin is becoming clearer.”
Separately, MicroStrategy founder Michael Saylor tweeted that the company bought 12,333 bitcoins for $347 million between April 29 and June 27, and $14.4 million in July Bought 467 bitcoins.
Bitcoin is up about 76% this year, while MicroStrategy’s shares have more than tripled. Its holdings of 152,800 bitcoins are currently worth about $4.5 billion.
Overall, MicroStrategy reported revenue of $120.4 million, missing analysts' expectations of $123.1 million. (CoinDesk)