MicroStrategy says no plans to stop trading BTC as paper loss hits $1.3B
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Software analytics company MicroStrategy recorded a paper loss of over a billion dollars on its Bitcoin (
Late last year the company sold a portion of its Bitcoin holdings for the first time. Discussing the sale, Kang said the 704 BTC were sold to harvest a tax loss of around $34 million.
He added even with the sale, the company “increased our net holdings by 2500 Bitcoin during the quarter.”
MicroStrategy’s overall revenue for the fourth quarter was $132.6 billion, reportedly beating Wall Street expectations. Its Q4 loss per share came in at $21.93.
At the time of writing, MicroStrategy’s stock price had fallen over 4% in after-hours trading according to Yahoo Finance data.
