Michael Saylor

MicroStrategy posts Q1 revenue loss amid falling Bitcoin price

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MicroStrategy Inc., the world’s largest corporate holder of Bitcoin, reported a total revenue of US$119.3 million in Q1, a 2.9% year-over-year decrease.

See related article: Terra’s US$10 billion Bitcoin Bet Sends LUNA to Record High

Fast facts

  • As of March 31, MicroStrategy’s 129,218 BTC under management had a carrying value of US$2.896 billion and a total market value of US$5.893 billion, representing a cumulative impairment loss of US$1.071 billion.
  • At the time of the report, MicroStrategy’s Bitcoin had an average cost of approximately US$30,700 and a market price of US$45,602.79.
  • Bitcoin’s price has fallen roughly 17% from that time, however, meaning the current total market value would be much lower, at roughly US$4.878 billion at press time.
  • MicroStrategy (MSTR) closed down 6.15% on the Nasdaq on Wednesday, and fell 0.70% after hours, as of press time.
  • MicroStrategy added 4,167 BTC in its latest cryptocurrency shopping spree between February and April, using a loan against its existing Bitcoin holdings.

See related article: ‘We should have bought Bitcoin, not gold’ — BNY Mellon fund

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