[DigitalToday reporter Chi-gyu Hwang] Strategy, the company with the largest bitcoin holdings, posted a $12.54 billion net loss in the first quarter, CoinDesk reported on May 5.
Bitcoin fell to about $68,000 on March 31 from about $87,000 on Jan. 1, causing large losses.
Strategy, led by bitcoin maximalist Michael Saylor, currently holds 818,334 bitcoins at an average acquisition price of $75,537. Its cash at the end of the first quarter stood at $2.25 billion, enough to cover about 18 months of preferred stock dividends.
Bitcoin has rebounded to above $80,000 in the second quarter, and Strategy could post a sizeable profit this quarter, CoinDesk said. Strategy is also maintaining the pace of its bitcoin accumulation. Strategy shares are up about 20 percent so far this year but are more than 50 percent lower than a year ago.
Chi-gyu Hwang
delight@d-today.co.kr