MicroStrategy Suffers $53M Loss in Q1, Buys More Bitcoin

Despite a significant first-quarter loss, MicroStrategy continues its aggressive Bitcoin acquisition strategy, now holding over $13 billion in the cryptocurrency.

MicroStrategy reported a $53.1 million loss in Q1 2024, largely due to a $191.6 million impairment charge on its Bitcoin holdings.
The company's Bitcoin holdings increased to 214,400 BTC, valued at approximately $13.6 billion.
Despite the financial setbacks, MicroStrategy purchased an additional 25,250 Bitcoin in Q1.
The firm's stock experienced volatility, with a significant drop following the earnings report.
MicroStrategy plans to further embrace Bitcoin, leveraging its corporate structure for potential value creation.