MicroStrategy has reported that its net loss in the fourth quarter of 2022 amounted to $249.7 million.
According to the report released by the company, its financial performance was negatively affected by the fall of the price of Bitcoin. The company sold 704 BTC during the reporting period, but remains the owner of 132,500 BTC. The coins lost $197.6 million in value.
The company’s CFO Andrew Kang has said:
“Our corporate strategy and commitment to acquiring, holding and expanding our long-term position in bitcoin remains unchanged.”
The market expected MicroStrategy to have the first positive quarter in two years.