- MicroStrategy releases first quarter report
- She indicated non-financial losses of $ 170.1 million due to the depreciation of the BTC
- This doesn’t upset management in the slightest, and here’s why
MicroStrategy is the world’s largest owner of bitcoins. It has 129,218 coins worth almost $5 billion in stock. Due to the downturn in the market, the brand lost $170.1 million in the first quarter and another $146.6 million in the 4th quarter of 2021.
However, this does not upset the owner of the company, Michael Saylor. He wrote on Twitter that he would buy all bitcoins for $25:
Here Sailor alludes to Warren Buffett, who recently said that he would not buy BTC, even if it costs $25.
A bit of math
According to the company, they spent $3.97 billion to buy 129,218 bitcoins. This means that the average cost of buying 1 BTC is about $30,700. At the current exchange rate of about $37,662, the value of MicroStrategy’s bitcoin reserves is about $4.9 billion.
“People who understand bitcoin buy it. And those who do not understand, talk about it” Michael Saylor added.
Recall that the other day MicroStrategy took out a loan of $205 million, and they plan to spend this money on buying bitcoins.
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