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.
#Bitcoin is a mission. pic.twitter.com/4uzqhCMLAw
— Michael Saylor⚡️ (@saylor) February 2, 2023
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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