MicroStrategy Suffers $170.1M Impairment Loss on Bitcoin in the First Quarter of 2022 😲 Still, Michael Saylor tweeted: 'I would buy all your Bitcoin for $25.'
Back in March, the company funded its latest purchase of Bitcoin by using the cryptocurrency it already holds in reserve as collateral for a $205 million loan from Silvergate Bank.
"We also furthered our position as the leading public company investor in bitcoin through the issuance of our first Bitcoin-backed term loan. We have demonstrated that our Bitcoin can be productively used as collateral in capital raising transactions, which allows us to further execute against our business strategy. Today, MicroStrategy is the world’s largest publicly traded corporate owner of Bitcoin with over 129,200 BTC.
There's some way to go before MicroStrategy would be nursing a loss on its Bitcoin investment, as the average cost per coin it owns stands at $30,700, with a total cost of $3.9 billion. "Not sure who needs to know this, but when MicroStrategy makes any material change to its corporate strategy or to its Bitcoin holdings, we disclose this to our shareholders via SEC filings, available to all."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana suffers 7th outage in 2022 as bots invade the networkAnother crash for the Solana network. It suffered a seven-hour outage overnight between Saturday and Sunday due to a large number of transactions from NFT minting bots. (Reporting via jessecogo)
Read more »
2022 Met Gala: Theme, Hosts, Guest List & Everything You Need to KnowAt the Met Gala, everybody’s A-list. And no, that’s not an exaggeration. Here’s everything to know about fashion’s biggest night in NYC.
Read more »
Photos: Notable Deaths in 2022Naomi Judd died Saturday at age 76. Here are some of the entertainers, leaders, athletes and other notable people we've lost so far this year.
Read more »
Best outdoor TV antennas in 2022The best outdoor TV antennas will bring you local news, sports, and other channels, so you don't need to worry when getting rid of cable.
Read more »
Met Gala 2022: Stage set for fashion's biggest nightAbout 400 A-listers from fashion, sports, music, film and beyond have been invited.
Read more »
Steelers 2022 Draft Grades: A Whole New Offense - The Draft NetworkThe Steelers added a lot of offensive talent early in the 2022 NFL Draft. How do all the players fit with the team? Brentley12 breaks down, analyzes & grades Pittsburgh's draft class. FrontOffice33 | NFLDraft | HereWeGo
Read more »