MicroStrategy Posts Loss After Writedown of Bitcoin Cache

MicroStrategy Posts Loss After Writedown of Bitcoin Cache

From bnnbloomberg.ca

MicroStrategy Inc. registered a second consecutive quarterly loss after taking an impairment charge against the value of its roughly $14.5 billion in Bitcoin holdings. The Tysons Corner, Virginia-based firm reported second-quarter revenue from its software business of $111.4 million, below analysts’ forecasts of $119.3 million. The net loss was $102.6 million or $5.74 a share, compared to a net income of $22.2 million or $1.52, in the year-earlier period. The company uses income from its software business to support Bitcoin purchases. In 2020, MicroStrategy became the first public company to buy Bitcoin as a ... (full story)

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