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The decision by the FASB to allow fair-value accounting for digital assets is a huge step forward for companies like MicroStrategy. Software developer MicroStrategy Inc (NASDAQ: MSTR) is set to report its Bitcoin (BTC) holdings quarterly without recognizing impairment losses in case of crypto price declines during the reporting period. This
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MicroStrategy’s largest impairment loss of $917.8 million was recorded in the second quarter of 2022, and the loss featured heavily in news coverage of the earnings, “giving the impression that the company’s inherent value had been negatively impacted when this was not the case,” the bank said. Source
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"Our bitcoin holdings increased to 152,800 bitcoins as of July 31, 2023, with the addition in the second quarter of 12,333 bitcoins being the largest increase in a single quarter since Q2 2021," said Andrew Kang, Chief Financial Officer, in a statement. "We efficiently raised capital through our at-the-market equity
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Amid BTC's big rally, the company's impairment loss narrowed to $18.9 million in the first quarter from $197.6 million in the fourth quarter. Source
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Bitcoin (BTC) miner Marathon Digitial will reissue a number of previous financial statements after the Securities and Exchange Commission (SEC) pointed out some accounting errors the firm made.According to a Feb. 27 SEC filing, Marathon will restate its unaudited Q1, Q2, and Q3 quarterly reports from both 2021 and 2022
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Like many other companies, Block invested in Bitcoin when the digital asset price was skyrocketing. Multinational technology conglomerate Block (NYSE: SQ) said the Bitcoin gross profit from its Cash App declined by 25% to $35 million in Q4 2022. According to the report, the total Bitcoin sold, which the company refers to
Read MoreOn Global Accessibility Awareness Day, Paul Arnold, ICO Deputy Chief Executive and Chief Operating Officer shares his story. 19 May 2022 Developing my career as a visually impaired person has involved striving for equal access to opportunities in life and
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