MicroStrategy Q1 Operating Loss of $53.1 Million After Impairment Charge of $191.6 Million in Bitcoin Holding

Some expected the company to report significant profits thanks to Bitcoin (BTC)’s first quarter rise by adopting new digital asset fair value accounting standards, but the company decided not to do so. Under its existing standards, MicroStrategy valued its Bitcoin holdings at the end of the quarter at $23,680 each, or $5.1 billion, rather than the March closing price of $71,028, or $15.2 billion.