Strategy Posts $8.22 Billion Q2 Loss on Falling Bitcoin Prices
Updated
Updated · BeInCrypto · Aug 18
Strategy Posts $8.22 Billion Q2 Loss on Falling Bitcoin Prices
3 articles · Updated · BeInCrypto · Aug 18
Summary
Strategy reported an $8.22 billion net loss for the second quarter, with the hit driven largely by a drop in Bitcoin prices.
840,447 Bitcoin were on its books as of Aug. 16, acquired for about $63.36 billion at an average price of $75,385, leaving the company highly exposed to crypto swings.
Michael Saylor told investors this week to prepare for “difficult years,” as the company also faces criticism over shareholder dilution and recent Bitcoin sales.
The results underscore the risk in Strategy’s long-running Bitcoin-heavy treasury strategy, even as Saylor continues to argue that early bets on emerging technologies can create outsized opportunity.