“The company earlier on Wednesday changed its name to Strategy as its primary focus for some time has been bitcoin, not software.”, — write: www.coindesk.com
The loss incurred as the company took an impairment charge on its 471,107 token bitcoin (BTC) holdings. Those holdings are worth more than $45 billion at bitcoin’s current price just above $97,000.
For 2025, Strategy is targeting a dollar gain of $10 billion on its bitcoin holdings.
It’s been an extremely eventful week for Strategy prior to the earnings, including an upsizing in the company’s preferred stock offering and a name change just hours ago.
The Financial Stability Accounting Board (FASB) last year implemented a new fair value accounting rule for corporates holding digital assets. Use of the rule was voluntary through the end of 2024, but will be required beginning in the first quarter of this year.
Shares are down marginally in after hours action. They fell a bit more than 3% in regular trade today as bitcoin dipped to the $97,000 level.
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