MicroStrategy invested $4B in bitcoin — holding the most of any public company. Now its Q2 earnings report will show just how much damage the crypto bear market has done to its balance sheet.
The price of the world's largest digital asset fell roughly 60% from peak to trough in the months of April to June.on earnings is a balance-sheet exercise in imaginary pain, because those losses are theoretical until the company changes its buy-and-hold strategy."Frankly, it doesn’t really matter. It has no impact on the inherent value of the company," Mark Palmer, research analyst at BTIG, tells Axios.
: MicroStrategy's stock price has become closely tied to the price of bitcoin, so outside of bitcoin prices rising, the company will have to figure out a way to continue funding its buy-and-hold strategy, Palmer said.: MicroStrategy has reached for every financial lever available to the public company to fund the buy-and-hold bitcoin strategy it announced in August 2020.
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