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Despite Bitcoin buying spree, Q3 wasn’t all that glittery for MicroStrategy
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MicroStrategy, the biggest institutional investor in Bitcoin, has maintained its tradition of buying the largest crypto token. Just recently, it added almost 9,000 Bitcoin to its holdings in Q3. This brought its total BTC stash to a valuation of around $7 billion.
Well, there’s another side to it. Consider the chart below.
Source: Bloomberg
Even though the said company showcased a significant result overall, making huge investments in Bitcoin also showed poorly on the firm’s income statement. The world’s biggest corporate holder of Bitcoin witnessed paper losses from holding digital assets on its books.
In accounting terms, a “paper loss” occurs when the value of something drops below the price that was paid for it.
According to
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