MicroStrategy, a leading corporate holder of bitcoin, reported a wider-than-expected loss for its fourth quarter. The company’s revenue fell 3% year-over-year to $120.7 million, below analyst expectations. A significant increase in bitcoin purchases also took place during this period. MicroStrategy added 218,887 new bitcoins, bringing its total to over 471,000 worth approximately $45.65 billion at the current price of around $97,000. The company plans to adopt a new accounting rule for cryptocurrency holdings in the first quarter.
Source: https://www.investopedia.com/microstrategy-swings-to-wider-than-expected-loss-rebrands-as-strategy-8786628