Alongside its third-quarter earnings report, software developer MicroStrategy (MSTR) disclosed the purchase of another 155 bitcoins (BTC) during October, bringing the total acquired since the beginning of Q3 to 6,607. As of the end of October, the Tysons, Virginia-headquartered firm co-founded by Michael Saylor was the owner of 158,400 bitcoins acquired at a total cost of $4.69 billion, or $29,586 per bitcoin. The company booked an impairment loss on its digital asset holdings of $33.6 million during Q3. Cumulative impairment losses have now risen to $2.23 billion, reflecting an average carrying amount per bitcoin of roughly $15,491. That, of course, isn’t terribly reflective of the market value as of Sept. 30 of the company’s bitcoin, which was $27,030, nor the current price of just under $35,000.

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Author: Lyllah Ledesma, Omkar Godbole

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