MicroStrategy Inc. posted a first-quarter loss after taking an impairment change against the value of its roughly $13 billion in Bitcoin holdings even though the cryptocurrency surged during the period.
See Also
One company now owns more bitcoin than any countryA dot-com entrepreneur who once lost $6 billion in one day has made billions from the Bitcoin rally and his company's surging sharesMicroStrategy's bitcoin approach has pushed its stock up over 1,000% since 2020The enterprise-software maker run by Bitcoin advocate Michael Saylor, said in a statement Monday that it had a net loss of $53 million, or $3.09 a share. Revenue fell 5.5% to $115.2 million, missing the average estimate of analysts surveyed by Bloomberg.
