According to PANews, MicroStrategy has reported a net loss of $102.6 million for the second quarter, translating to a loss of $5.74 per share. This is a significant decline compared to the same period last year, where the company posted a profit of $22.2 million, or $1.52 per share. The primary reason for this loss is the $180.1 million impairment charge on its Bitcoin holdings, a substantial increase from the $24.1 million impairment charge in the second quarter of the previous year.
MicroStrategy's financial disclosures reveal that as of July 31, the company holds a total of 226,500 Bitcoins, acquired at a total cost of $8.3 billion, with an average purchase price of $36,821 per Bitcoin. Given the current Bitcoin price of $63,500, these holdings are valued at approximately $14.4 billion. The company has stated that its Bitcoin yield for the year to date is 12.2%, with a target of achieving an annual yield of 4% to 8% over the next three years.
Additionally, according to Bitcoin Magazine, MicroStrategy plans to raise $2 billion to purchase more Bitcoin, further solidifying its commitment to the cryptocurrency.
