Business intelligence firm MicroStrategy said it would consider yield creation opportunities on 95,643 “unweighted” bitcoin (BTC) held by its subsidiary MacroStrategy.
In Microstrategy’s report for the first quarter of 2022, released on Tuesday, the firm said it would consider “the future yield on macrostrategy bitcoin without weighting” as a consideration, following a $205 million BTC-collateralized loan issued by Silvergate Bank in March. generation opportunities”. As of March 31, MicroStrategy held a total of 129,218 BTC, of which the firm reported that it had a carrying value of approximately $2.9 billion, representing a cumulative loss of over $1 billion and a total cost of $4 billion.
“MicroStrategy’s original cost base and market cap of bitcoins were $3.967 billion and $5.893 billion, respectively, representing an average cost per bitcoin of approximately $30,700 and a market cap per bitcoin of $45,602.79, respectively,” the firm said.
today, @MicroStrategy is the world’s largest publicly traded corporate owner #bitcoin With over 129,200 bitcoins.
Please join the management team at 5 p.m. EDT as we discuss $mstr Q1 2022 financial results and answers to questions about our business and outlook. https://t.co/UOSdCKQOSx
— Michael Saylor⚡️ (@saylor) 3 May 2022
According to the report, 95,643 BTC of Macrostrategy’s crypto holdings are “unloaded” as of March 31, with 19,466 BTC pledged as collateral to the subsidiary – approximately $820 million at the time of the deal – from Silvergate worth $205 million. For. The remaining 14,109 BTC were held directly by MicroStrategy.
MicroStrategy reported revenue of $119.3 million for Q1 2022, a decrease of 3% year-over-year. In addition, the firm’s non-generally accepted accounting principles (GAAP) expenses for the first quarter were $275 million, with $170 million from BTC impairment charges. The United States Securities and Exchange Commission (SEC) reportedly sent a letter to Microstrategy in January requesting the firm to stop using non-GAAP methods of calculating its finances.
related: MicroStrategy subsidiary adds another 4,197 BTC to balance sheet
Since investing $250 million in bitcoin in August 2020, MicroStrategy has now invested in crypto after separate purchases using the company’s cash on hand and the proceeds of the sale of senior notes convertible into private offerings to institutional buyers. Arabs captured. At the time of writing, BTC was priced at $37,787, bringing the company’s 129,218 tokens to approximately $4.9 billion.
