The company has incurred successive impairment charges over the past six quarters taking the total to nearly $1 billion.
a loss of $146.6 million in an impairment charge on account of its bitcoin holdings. Business intelligence software maker MicroStrategy said this in its Q4 2021 financial results on February 1.
MicroStrategy’s CFO Phone Le informed Tuesday during an earnings call that the company expected the impairment charges to be substantial given the enhanced volatility of bitcoin. by triple digits in 2020 since it began purchasing bitcoin as a business strategy. Moreover, MSTR tapped a new ATH last year at over $1,000 per share.Recently, the SEC asked MicroStrategy to refrain from non-GAAP rules or unofficial accounting adjustments whereby it would not reveal the exact impairment charge. Rather, it would say how much its income would have been had there not been the impairment charge.
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