The most important public Bitcoin holder, MicroStrategy, reported its eighth straight quarterly loss, owing to bearish market situations previously yr, 2022.

The enterprise software program maker had amassed a stash of roughly 132,500 Bitcoin by the top of December, totaling about $2.2 billion. For the reason that finish of the earlier yr, the worth of its Bitcoin holdings has elevated by about $850 million.

In its quarterly report, MicroStrategy claimed to have paid about $42.8 million in money for about 2,395 Bitcoin between the start of November and Dec. 1, when the market crashed following the information of FTX’s demise. It subsequently cited tax causes for promoting 704 BTC on Dec. 22 for round $11.8 million earlier than buying 810 extra of them two days later.

This is how a lot MicroStrategy misplaced

Bitcoin holder MicroStrategy not too long ago introduced its fourth quarter 2022 monetary outcomes. MicroStrategy says its digital property comprise 132,500 Bitcoins with a carrying worth of $1.840 billion. Since its acquisition, the corporate has incurred $2.153 billion in impairment losses.

“As of December 31, 2022, the carrying worth of MicroStrategy’s digital property (comprised of 132,500 bitcoins) was $1.840 billion, which displays cumulative impairment losses of $2.153 billion since acquisition and a mean carrying quantity per bitcoin of roughly $13,887,” MicroStrategy stated in its This autumn, 2022, report.

Regardless of the large losses on its funding, MicroStrategy says that its convictions remained unchanged: ”Our company technique and conviction in buying, holding, and rising our bitcoin place for the long run stays unchanged.”