Tesla, MicroStrategy, Square face earnings consequences for Bitcoin holdings

Jan

Who's the Boss?
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May 24, 2010
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Bitcoin's big business backers face the music

It’s time for Bitcoin’s corporate champions to account for a brutal selloff in the cryptocurrency.

Companies such as Tesla Inc. and MicroStrategy Inc. that have emerged as some of Bitcoin’s biggest backers will have to reckon with their digital holdings in earnings reports next week after the price of the token tumbled 41% in the second quarter. Square Inc., one of the few other large companies to add the cryptocurrency to its balance sheet, will report results in August.
 

NarrowBandFtw

Honorary Master
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Feb 1, 2008
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Saylor hinted in a number of interviews that MicroStrategy averaged around 20-25k per BTC for its purchases

i.e. it is sitting pretty deep in the green on its balance sheet despite the 41% tumble in price
 
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