MicroStrategy Makes Profit, Reports $24 Million Bitcoin Impairment Charge in Q2
Bitcoin Ang MicroStrategy ay Kumita, Nag-uulat ng $24 Milyong Bitcoin Impairment Charge sa Q2 13 minuto ang nakalipas Balita ng Ethereum ng Bitcoin The net income of the company was $22.2 million for the second quarter of the year, however, compared to a loss of nearly $1.1 billion during the same period in 2022. In the same quarter last year, Q2 2022, MicroStrategy had posted an impairment charge on its Bitcoin holdings of nearly $1 billion. In the companys latest earning statement, MicroStrategy Chief Financial Officer Andrew Kang said the firm continued buying the asset “against the promising backdrop of increasing institutional interest, progress on accounting transparency, and ongoing regulatory clarity for Bitcoin.” Its founder and chairman Michael Saylor started buying the cryptocurrency in August 2020. He claims that the asset is a good hedge against inflation and will get the best returns for shareholders. So far, he appears to be right: despite the impairment charge, MicroStrategy stock—MSTR on the Nasdaq—is up 197% since the first Bitcoin buy. The price of the biggest cryptocurrency by market cap has risen 156% since then, too, from $11,398 per coin to $29,238 today. Saylor has said that the companys strategy “is to buy and hold Bitcoin, and the key for us is to