MicroStrategy's Bitcoin impairment loss in the first quarter was $18.9 million, holding a total of 140,000 BTC

2023-05-02 08:47:58

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ChainCatcher news shows that according to the quarterly financial report, MicroStrategy recorded a Bitcoin impairment loss of $18.9 million in the first quarter, down from $197.6 million in the fourth quarter and $170.1 million in the same period last year.

The company also purchased more Bitcoin in the first quarter, bringing its total Bitcoin holdings to 140,000 coins, and repaid its loan from Silvergate early.

MicroStrategy's Chief Financial Officer Andrew Kang stated, "We have strengthened our capital structure by reducing leverage through the full repayment of Bitcoin-backed loans. We strategically managed our balance sheet by increasing our holdings by 7,500 Bitcoin this quarter. As the digital asset environment continues to mature, we remain confident in our Bitcoin strategy."

After announcing its quarterly results, MicroStrategy's stock price rose about 2% in after-hours trading on Monday. (CoinDesk)

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