Saylor’s MicroStrategy Posts Loss After Writing Down Bitcoin Holdings

Losses widened in the third quarter amid Bitcoin impairment
Saylor counters share-price worries over looming Bitcoin ETFs

Michael Saylor, chairman of MicroStrategy, speaks in Washington, DC, in 2022. Photographer: Valerie Plesch/Bloomberg

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By Olga Kharif

November 1, 2023 at 8:18 PM UTC

Updated on

November 1, 2023 at 10:41 PM UTC

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MicroStrategy Inc., the enterprise-software maker that is the largest publicly-traded holder of Bitcoin, posted a third-quarter loss after taking a writedown because of a decline in the value of the cryptocurrency.

The Tysons Corner, Virginia-based company’s net loss widened to $143.4 million, or $10.09 a share, from $27 million, or $2.39, in the year-ago period. Revenue from the software business rose about 3% to $129.5 million, above the average forecast of $125.8 million of analysts surveyed by Bloomberg.