Bitcoin strategy firm Strategy (formerly known as MicroStrategy) reported a net loss of $3.03 per share for the fourth quarter of 2024, compared to earnings of $0.50 per share for the same period last year. The loss was due to the company taking an impairment charge on its bitcoin holdings. As of December 31, 2024, Bitcoin holdings were 447,470, against market expectations of 425,149.
The company recently ended a series of bitcoin purchases and currently holds 471,107 bitcoins, worth about $45 billion. The U.S. Financial Stability Accounting Board (FASB) implemented a new fair value accounting rule for businesses holding digital assets last year. The use of this rule is voluntary until the end of 2024, but will be enforced starting from Quarter 1 this year.
Strategy Reports GAAP Loss of $3.03 per Share in Q4 2024
2025-02-05 21:40:12
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