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.
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