According to the latest earnings report published by MicroStrategy, the company has been in the first quarter of the year. Bitcoin (BTC) lost $170.1 million from its assets. In the last quarter of last year, the company’s loss was $146.6 million.
Changes Made to MicroStrategy Management
The company also announced that Andrew Kang will take over from Phong Le as chief financial officer effective May 9, after which he will continue as president of Le MicroStrategy. Kang was previously the CFO of tech company Greensky Inc.
The company’s loss of Bitcoin assets is recorded as compared to BTC’s decline in price at the time it was purchased. In accordance with standard accounting rules, cryptocurrency The value of digital assets, such as currency units, is recorded at cost and is only adjusted if their value declines. In the event that the value of the assets increases, it does not need to be reported unless the asset is sold.
For 2021, MicroStrategy recorded a total digital asset loss of $831 million. For 2020, this amount was measured as 71 million dollars.
The Company Has 129,218 Bitcoins
As of March 31, 2022, the company has 129,218 BTC purchased for a total of $ 3.97 billion. According to the data, the average purchase price of these BTCs was recorded as 30,700.
Between February 15th and April 4th, MicroStrategy purchased another 4,167 BTC for a payment of $190.5 million, for an average of $45,714.
*Not investment advice.