The company incurred a minimal bitcoin impairment charge of $727,000 in Q3, compared to the $917 million in Q2.
The largest BTC corporate holder – MicroStrategy – posted a minimal impairment charge of $727,000 on its bitcoin ownings in Q3, 2022 due to the relatively stable price of the asset during that period.
“Furthering the commitment to our bitcoin strategy, MicroStrategy acquired approximately 301 additional bitcoins this quarter and remains the world’s largest publicly traded corporate owner of bitcoin, with total holdings of 130,000 bitcoins,” Chief Financial Officer Andrew Kang stated. Kang further revealed that MicroStrategy reported an impairment charge of $727,000 on its bitcoin possessions in Q3 due to the asset’s relatively stable valuation. In comparison, when BTC’s price varied between $47,000 and $18,000 in Q2, the firm“We incurred a minimal bitcoin impairment charge as bitcoin prices were stable during the third quarter and were encouraged by FASB’s recent announcement of its support for fair value accounting for bitcoin.
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