MicroStrategy reported a net loss of $53.1 million in Q1, with digital asset impairment losses being ten times that of the same period last year

ChainCatcher news, MicroStrategy released its Q1 financial report, showing a net loss of $53.1 million for the quarter. Specifically, the company recorded a digital asset impairment loss of $191.6 million this quarter, which is ten times that of the same period last year. Compared to the first quarter of 2023, its revenue also decreased by 5.5%, reaching $115.2 million.

It is worth mentioning that the company has not yet adopted the new fair value accounting standards for digital assets, which would take into account the 65% increase in the fair value (or market value) of Bitcoin this quarter. (Cointelegraph)

Earlier today, MicroStrategy released the latest data on its Bitcoin holdings and its Q1 2024 financial report on Monday. The company currently holds a total of 214,400 Bitcoins, with a total value of $7.54 billion, or $35,180 per token. Since the end of the fourth quarter, the company has purchased 25,250 Bitcoins at an average price of $65,232 per BTC, totaling $1.65 billion.

Additionally, the company purchased an extra 122 BTC in April, costing $7.8 million. As of March 31, MicroStrategy reported holding 214,278 BTC. The company may have purchased 32 BTC after March 19, when it disclosed holding 214,246 BTC.