While some had expected the company might adopt the new fair value accounting standard, and thus report a sizable profit thanks to bitcoin’s (BTC) first quarter rally, the company elected not to do so. By the old standard, MicroStrategy at quarter’s end valued its bitcoin holdings at a price of $23,680 each rather than March’s closing price of $71,028.
MicroStrategy Q1 Operating Loss of $53.1M After Bitcoin Holdings Impairment Charge of $191.6M
