MicroStrategy’s Bitcoin Wager Has Turned Into A Losing Bet

Bitcoin

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MicroStrategy

MSTR
embarked on a strategy of using its cash and then debt to buy alternative assets when it announced its June 2020 quarter results on July 28, 2020. Over almost two years since then it has bought 129,218 Bitcoins as of May 2, 2022, per its March 2022 10-Q filing. The company has spent just under $4 billion for an average cost of $30,700.

Unfortunately, since last Thursday, May 12, Bitcoin has been trading a bit over to…
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