The third quarter earnings for business intelligence firm MicroStrategy revealed a narrowed net loss of $27.1 million for the quarter, while it continues to grow its Bitcoin portfolio despite poor crypto market conditions.at the end of Q3 2022. That amount represents 0.62% of all Bitcoin that will ever be owned, which it says was acquired for a total cost of around $4 billion, or $30,639 per BTC.on Nov. 1 impairment charges for the quarter of $727,000, far less than the $917.
An impairment charge is an accounting term used by businesses to describe a reduction in the value of held assets, and according to MicroStrategy, it had cumulative impairment losses of approximately $2 billion as of Sept. 30. In an earnings call MicroStrategy president and CEO, Phong Le reiterated the firm's long-term hodling strategy, saying:
“We have not sold any Bitcoin to date. To reiterate our strategy, we seek to acquire and hold Bitcoin for the long term. And we do not currently plan to engage in sales of Bitcoin. We have a long-term time horizon and the core business is not impacted by the near-term Bitcoin price fluctuations.”on Aug. 8 but remains with the company as an executive chairman, mentioned in the call that since embarking on its Bitcoin strategy on Aug.
In the accompanying earnings report, chief financial officer Andrew Yang gave a nod to the recent announcement from the United States Financial Accounting Standards Board’s“If finally adopted and implemented, we believe fair value accounting will improve upon the current, unfavorable intangible accounting treatment applicable to Bitcoin holdings and will promote additional institutional adoption of Bitcoin as an asset class”estimates of a loss of $0.94, and its revenues of $125.
It seems to me that most people invest for a long term
Soccerinu 👀
SoccerInu worldcup2022 Bsc worldcup qatar Soccer minifootballtoken ready to move
Well.. As long Elon is faking around with his Dogelito coin.. We need Saylor.
$MSTR needs to figure out how it can generate revenue with its Bitcoin holdings No point in holding it if you cant buy things with it and if you cant generate actual revenue with it. Price appreciation doesn’t count.
Micro strategy in it for the long term 📈📈📈 BTC
Better.
Long term investment is the best!
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CoinDesk - 🏆 291. / 63 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »