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Analysis

Among companies holding more than $19 billion in bitcoin, MicroStrategy incurred $191 million in BTC impairment losses in Q1

MicroStrategy (NASDAQ ticker: MSTR), the largest single holder of BTC outside of Bitcoin spot ETFs, reported its first quarter earnings, revealing that the company's Bitcoin impairment loss for the period was $191 million, according to CoinDesk. Impairment losses are the difference when the price...

Among companies holding more than $19 billion in bitcoin, MicroStrategy incurred $191 million in BTC impairment losses in Q1

MicroStrategy (NASDAQ ticker: MSTR), the largest single holder of BTC outside of Bitcoin spot ETFs, reported its first quarter earnings, revealing that the company's Bitcoin impairment loss for the period was $191 million, according to CoinDesk. Impairment losses are the difference when the price of Bitcoin falls below the price at which a company purchased it. Microstrategy currently holds 214,400 BTC.

Meanwhile, blockchain analytics firm Channalysis has compiled a list of 10 companies with more than $19 billion in Bitcoin in a report. The largest Bitcoin holder is Microstrategy, which holds about 1% of the total supply. Other companies on the list include Coinbase and Galaxy Digital, along with mining companies such as Marathon Digital, Hut 8, Riot Platform, and Cleanspark. Non-crypto companies include Tesla, Block, and financial consultancy The Bitcoin Group. Companies that did not disclose specific holdings, such as Reddit, were excluded.

“More and more public companies are adding bitcoin to their balance sheets, and when high-profile companies publicly commit to holding cryptocurrency, it can spur investor confidence and interest,” said Chanelis.

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