MicroStrategy reported losses, but remained optimistic

The American company MicroStrategy, known for its investments in cryptocurrency, has released its financial results for the fourth quarter of 2022. The miracle did not happen – the company suffered a loss of $ 249.7 million.

Cryptocurrency companies continue to report for the fourth quarter of 2022. The year was, frankly, a failure, so there are no pleasant surprises in the reports.

The bitcoins owned by MicroStrategy brought a loss of about $197.6 million. It is important to remember that this is an unrealized, so-called “paper” loss, since the bitcoins did not move anywhere, and, accordingly, depreciated only hypothetically.

Despite unrealized losses, MicroStrategy CFO Andrew Kahn is optimistic in the February 2 earnings report: “I am pleased to report that we increased our holdings again to 132,500 BTC last quarter. Our corporate strategy and trust in bitcoin remain unchanged.”

The company paid about $4 billion for its bitcoins. But their value at the end of 2022 is estimated at $1.8 billion.

In response to the report, Michael Saylor, co-founder and former CEO of MicroStrategy, posted a tweet saying Bitcoin is a mission.

Given that the price of bitcoin rose significantly in January, MicroStrategy is doing better now than at the time of writing.

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