Phong Le, CFO of MicroStrategy, a NASDAQ-listed analytics software provider, has just announced the company intends to continue buying Bitcoin despite recent drops in its price.
He has told The Wall Street Journal in an interview that at the moment it is unknown whether the company will buy more Bitcoins than last year, however, what is clear is that it will continue to buy.
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According to data from the US Securities and Exchange Commission (SEC), as of December 29, 2021, the company owned about 124,391 Bitcoins.
Meanwhile, the SEC also wants MicroStrategy to modify the way it discloses its Bitcoin holdings in future filings. The regulator has contacted the company to ask it to better reflect BTC volatility in its filings, rather than using accounting practices that adjust for Bitcoin impairment losses.
The company has no plans to sell its holdings and is "constantly" looking for other ways to use BTC to add value for shareholders. The company is considering buying Bitcoin-backed bonds in the coming years.