American City Business Journals
MicroStrategy will continue buying Bitcoin, even after questions on disclosures from SEC
MicroStrategy Inc. will continue buying Bitcoin in 2022 despite its recent declines, President and CFO Phong Le told The Wall Street Journal. The Tysons software company will also continue with its Bitcoin investment strategy despite a recent ruling from the Securities and Exchange Commission that MicroStrategy (NASDAQ: MSTR) must change how it reports its results with regard to the wide swings in value related to its cryptocurrency holdings. The SEC in December instructed MicroStrategy to stop adjusting its unofficial financial disclosures — specifically the lines that fall outside generally accepted accounting principles, or non-GAAP — for impairment charges related to the value fluctuation of its Bitcoins holdings.
