Crypto Patel

🔴 MicroStrategy's Big Risk: Losing $53M but Gaining $6.2B in #Bitcoin

MicroStrategy's Q1 2024 Financial Overview

▪️Net Loss: $53.1 million this quarter.

▪️Revenue: Declined by 5%, totaling $115.2 million.

Despite the downturn, MicroStrategy's bold Bitcoin strategy remains:

▪️ $BTC Investment Loss: Faced a $191.6 million

▪️ impairment on digital assets, nearly 10x higher than last year.

▪️ Bitcoin Acquisition: Added 122 BTC to their reserves in April for $7.8 million.

Portfolio Update:

▪️Total #BTC Holdings: 214,400 BTC.

▪️Current Valuation: $13.5 billion.

▪️Unrealized Gain: Stands at $6.2 billion.

Outlook: MicroStrategy continues its bullish stance on Bitcoin, showcasing confidence in long-term growth despite short-term losses.