Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
In a report recently presented by MicroStrategy, the company assures that it will maintain its focus on the benefit of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. despite the losses derived in the short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. term, and reiterates that the possibility of loans based on cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. is still open, so they could explore this option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. with other entities.
The investment firm run by Michael Saylor, MicroStrategy, recently presented its earnings statement for the first quarter of 2022, in which it outlined some important figures and reiterated that it will continue with its strategy based on Bitcoin, adding that it is open to consider other proposals to increase its income.
Some data revealed by MicroStrategy
Among the data reported by MicroStrategy in its report, the company revealed that it capitalized revenues of USD $119.3 million for these first three months of 2022, although its loss margin was much higher, generating a negative balance for this period.
Regarding the data, leaving aside the USD $119.3 million in revenue, MicroStrategy revealed that its non-GAAP expenses amounted to USD $275 million for this first quarter, lower than what was seen for the same period of 2021 when losses stood at over USD $298 million. It also revealed that for these first three months, of the total spent, about USD $170 million are associated with the fall in the price of the main digital currency.
In this regard we read:
“Loss from operations for the first quarter of 2022 was USD $170 million, compared with USD $183.2 million for the first quarter of 2021. Net loss for the first quarter of 2022 was USD $130.8 million, or USD $11.58 per share on a diluted basis, compared to USD $110.0 million, or USD $11.40 per share on a diluted basis, for the first quarter of 2021…Digital asset impairment charges of USD $170.1 million and USD $194.1 million for the first quarter of 2022 and 2021, respectively, were reflected in these amounts.”
In relation to the state of your bitcoins, MicroStrategy which manages more than 129,000 BTC he said:
“As of March 31, 2022, the book value of MicroStrategy’s digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets (comprised of approximately 129,218 bitcoins) was $2.896 billion, reflecting accumulated impairment losses of $1.071 billion since acquisition and an average book value per bitcoin of approximately $22,409. As of March 31, 2022, MicroStrategy’s original cost basis and market an area or arena, online or offline, in which commercial dealings are conducted. value of bitcoin was $3.967 billion and $5.893 billion, respectively, reflecting an average cost per bitcoin of approximately USD $30,700 and a market price per BTC of USD $45,602, respectively.”
Open to other possibilities
Un detalle al cual el equipo de MicroStrategy reference was that they would still be open to contemplating “other” possibilities for generating revenue through the use of cryptoassets, possibly through financial services based on digital currencies.
Here he made reference to the loan agreement backed by Bitcoin announced at the end of March, which he arranged with the team of Silvergate by means of MacroStrategy, its subsidiary company. In this regard, MicroStrategy indicated the possibility of more such alliances emerging, and that they are open to exploring them to see what benefits can be derived.
In that section, it reads:
“[MicroStrategy] May conservatively explore future opportunities to generate returns on MacroStrategy’s unencumbered bitcoins.”
Firm with Bitcoin
The release of the earnings report for the first quarter of 2022 comes days after the company’s CEO, Michael Saylor, reiterated that the parallel strategy to acquire and maintain Bitcoin “it has been a great success”.
In a letter to shareholders, Saylor commented:
“We helped pioneer data mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. software in the 1980s. We went early to the web in the 1990s. In the 2000s, we were early adopters of mobile analytics as well as cloud-based analytics. As evidenced by our company’s history and successful track record, innovation is in our corporate DNA… In the coming year, we will continue to focus on key priorities to empower customers with cloud-based analytics and embedded analytics, and increase awareness of our Bitcoin strategy.”
Let’s keep in mind that to date, Saylor himself maintains that MicroStrategy no ha vendido ninguno de los Bitcoin in their possession, and reiterates that they do not plan to do so at least in the short/medium term.
- Michael Saylor, CEO of Microstrategy says Bitcoin storage strategy has been a success, denies having sold out
- MicroStrategy boosts its hoard to nearly 130,000 bitcoins after latest USD $190 million buyout
- MicroStrategy gets $205M Bitcoin-backed loan to buy more Bitcoin
Version by Angel Di Matteo / DiarioBitcoin
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