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Seeking Alpha 2021-04-29 21:16:25

MicroStrategy takes $264.8M impairment on bitcoin assets in Q1

MicroStrategy (MSTR) bought 20,857 bitcoins (BTC-USD) for $1.09B during Q1 at an average purchase price of $52,087 per bitcoin, the company disclosed in its Q1 earnings.The carrying value of the company's digital assets as of March 31, 2021 was $1.947B, which reflects cumulative impairment charges of $264.8M since acquisition.In Q2 to date, MSTR has purchased ~253 bitcoins for a total of $15.0M, or an average purchase price of $59,339 per bitcoin, as it reported on April 5.As of April 28, 2021 at 4:00 PM ET, the company held ~91,579 bitcoins and the market price of one bitcoin in MSTR's principal market was ~$55,492. In today's trading, bitcoin is down 3.5% over the past 24 hours to $52.9K.MSTR stock slips 0.2% in after-hours trading.As for Q1 results, total revenue of $122.9M, beating the average analyst estimate of $111.9M, increased from $111.4M a year ago.Q1 adjusted EPS of $1.54 jumps from 39 cents in the

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