Microstrategy: More Losses For Bitcoin Spruiker
I'm still not even remotely a buyer of this strategy. Arguably that "store of value" bet paid off in late 2020. But it hasn't worked for near on 17 months. Shares are down 37% YTD. Avoid.
- Microstrategy Inc Cl A (MSTR US) reported a net loss of $155.6mn in the fourth quarter, compared to the net loss of $124.3mn in the 4Q21.
- MSTR took a non-cash digital asset impairment charge of $170.1mn in the first quarter, up from $146.6mn in the 4Q21.
- A bet on MSTR is a bet on bitcoin. Yet MSTR is down 37% YTD, compared to ~20% for bitcoin.
By David Blennerhassett - https://www.smartkarma.com/profiles/david-blennerhassett?utm_source=tiger_community
On Microstrategy Inc Cl A (MSTR US) - https://www.smartkarma.com/entities/microstrategy-inc-cl-a?utm_source=tiger_community
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