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Tysons-based MicroStrategy sees 2022 loss soar on bitcoin volatility
- linkweb3
- 2023-02-04
- 3460
- Newsletter
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Summary:MicroStrategy Inc.’s bitcoin bets grew even more costly last year as an impairment charge related to those holdings contributed to a near-tripling of its total net loss year-over-year to $1.5 billion in 2022 — its highest loss since at least the turn of the millennium In all, the Tysons business intelligence software company had to report more than $1.3 billion in digital asset impairment charges based on its bitcoin holdings for all of 2022, according to its earnings report released Thursday.
MicroStrategy Inc.’s bitcoin bets grew even more costly last year as an impairment charge related to those holdings contributed to a near-tripling of its total net loss year-over-year to $1.5 billion in 2022 — its highest loss since at least the turn of the millennium In all, the Tysons business intelligence software company had to report more than $1.3 billion in digital asset impairment charges based on its bitcoin holdings for all of 2022, according to its earnings report released Thursday. The company sold a small portion of its bitcoin holdings for the first time in December through its subsidiary, MacroStrategy LLC. That sale of 704 bitcoins netted the company $11.8 million, it said at the time, simultaneously announcing its purchase of another 2,395 bitcoins between Nov. 1 and Dec. 21.
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