MicroStrategy, the company of Michael Saylor, known as Bitcoin advocate, has published its 4th Quarter 2021 report.
In a recent statement 660 Count the total number of bitcoins by taking bitcoins 125,051 The company, which announced that it has 4th quarter in the report 146.6 million dollar impairment was noted.
MicroStrategy, which included impairment in the report, actually believes that the current accounting method will lead to an undervaluation. The company has recently applied to the US Securities and Exchange Commission (SEC) for a method of accounting for Bitcoin. However, the SEC rejected this request, telling the company to stop correcting losses in its accounting practices and use traditional methods.
It was stated that MicroStrategy company, whose request for a method of accounting for Bitcoin was rejected by the US Securities and Exchange Commission (SEC), believed that the current accounting method would lead to an undervaluation. But the SEC said it expects the company to stop adjusting its losses in its accounting practices and use traditional methods.
Microstrategy Shares Dropped 18 percent on the News
Related article: Microstrategy Shares Dropped 18 percent on the News
MicroStrategy CFO Phong Le said the company’s bitcoin price will be volatile in the first quarter of 2022. expects an additional depreciation He said that he is working with various agencies as a more suitable accounting program for digital assets should be determined.
MicroStrategy shares, passing month about 33% experienced a decline.
in 2020 $72 million the company reporting a digital asset impairment 831 million It was announced that there was an impairment loss of USD.