Business intelligence firm MicroStrategy says it will consider the opportunity to generate results on 95,643 Bitcoins “without a hitch” (BTC) is held by a subsidiary of MacroStrategy.
In the MicroStrategy report for the first quarter of 2022 released on Tuesday, the company said said it “can conservatives explore yield generation opportunities on unencumbered bitcoins MacroStrategy” as a consideration after a $ 205 million BTC-collateralized loan issued by Silvergate Bank in March. As of March 31, MicroStrategy held a total of 129,218 BTC, which the company reported had a carrying value of approximately $ 2.9 billion, representing a cumulative defective loss of more than $ 1 billion and an aggregate cost of $ 4 billion.
“MicroStrategy’s original cost base and market value of bitcoin is $ 3.967 billion and $ 5.893 billion, respectively, which show an average cost per bitcoin of approximately $ 30,700 and a market price per bitcoin of $ 45,602.79,” he said. said convince.
– Michael Saylor⚡️ (@saylor) 3 May 2022
According to the report, 95,643 BTC of MacroStrategy’s crypto ownership were “unencumbered” as of March 31, with 19,466 BTC held by the subsidiary pledged as collateral – about $ 820 million at the time of the deal – for a $ 205 million debt from Silvergate. The remaining 14,109 BTC are held directly by MicroStrategy.
MicroStrategy reported $ 119.3 million in revenue for Q1 2022, down 3% annually. In addition, the company’s non-Generally Accepted Accounting Principles (GAAP) costs for the first quarter were $ 275 million, with $ 170 million from BTC disruption costs. United States Securities and Exchange Commission reportedly sent a letter to MicroStrategy in January get the firm to stop using non-GAAP methods of calculating its finances.
Since making a $ 250-million investment in Bitcoin in August 2020, MicroStrategy now holds billions in crypto after a separate purchase using the company’s cash in hand and proceeds from the sale of senior notes converting it into a private offering to institutional buyers. The BTC price was $ 37,787 when it was issued, making the company’s 129,218 coins worth approximately $ 4.9 billion.