MicroStrategy wants to buy more BTC despite significant losses
Business intelligence and mobile software company MicroStrategy decided to buy more Bitcoins despite a $424.8 million loss in the second quarter from the BTC depreciation.
This is a purely formal loss that is based on the Bitcoin price at the end of the quarter. However, MicroStrategy made almost a billion dollars more than it spent on Bitcoin.
In total, MicoStrategy owned approximately 105,085 BTC as of June 30, 2021, with a book value of US $2.051 billion, according to the company’s report. Since the acquisition of Bitcoins, the company has formally lost $689.6 million due to the exchange rate change.
But it looks like the company continues to accumulate the assets despite the crypto downturn that began in May.