Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Deshawn Todd on May 04, 2022, 01:26:08 AM
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The software firm owns 129,218 bitcoins valued at just under $5 billion :)
According to MicroStrategy's latest earnings report, the company recorded a non-cash digital asset impairment charge of $170.1 million in the first quarter, up from $146.6 million in the fourth quarter.
Andrew Kang will succeed Phong Le as chief financial officer on or about May 9, after which Le will remain as president of MicroStrategy. Kang was previously the CFO of Greensky Inc., a technology business.
The digital asset impairment represents the price of bitcoin (BTC) falling below the price at which it was purchased. The value of digital assets such as cryptocurrencies must be recorded at their cost under ordinary accounting rules, and only changed if its value is harmed or decreases. However, unless an asset is sold, a price increase is not reported.
For 2021, MicroStrategy posted total digital asset impairment losses of $831 million, compared $71 million in 2020.
The firm's 129,218 bitcoins were purchased for $3.97 billion at the end of March 31, 2022, representing an average cost per bitcoin of nearly $30,700, according to the corporation. At the current price of bitcoin, which is around $37,662, the value of such holdings is around $37,662.
I found this article on the web and decided to post about it crypto is really the future this to me is a big surprise :)
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I am amazed to see MicroStategy to be always on the news even for small moves and details...and it is because this firm has accumulated a fairly good amount of BTC for the past many months and right now the lady luck is not anymore smiling on it...but people behind MicroStategy are not really worried because they are sure the lady luck is just resting a bit and will soon be returning on the center stage when it is fully prepared to do so.
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it will provide a very large opportunity optimistic be careful and learn where we will invest and store it is the basis of cryptocurrency opportunities
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One of the reasons for us to look forward to the future of BTC is the participation of large funds and they believe that they will pump the price of BTC above their average price. However, I also fear that these funds are just big investors, BTC whales still take control of this market.
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Now it has become extremely fearful the way the market is going, heavy dumping happening, it now very uncertain the way forward of the market. Bitcoin prices continue to drag order coin/tokens down, a situation has limited buyers to enter. I am wondering when big investors will come to save the current market conditions.
Microstrategy may be in fear because Bitcoin price is going against positions, especially on leverage. I hope BTC bounce back soon even with smaller investments.
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I'm really worried for MicroStrategy, the average price they bought BTC is over 30K USD but now BTC price is under 30K USD. If MicroStrategy changes its mind with BTC investment, this market will see great volatility.