MicroStrategy 第一季虧損，但仍致力於比特幣

MicroStrategy 報告 2024 年第一季淨虧損 5,310 萬美元。收入下降 5.5%，而營運費用飆升 152.8%。儘管遇到這些挫折，MicroStrategy 仍然看好比特幣，自2023 年以來已額外購買了25,250 BTC。 該公司高層也對現貨比特幣ETF 的批准表示樂觀，他們認為這將進一步推動機構需求和監管清晰度。

MicroStrategy Reports Loss Amidst Bitcoin Investments, Stays Committed to Digital Asset

MicroStrategy 報告比特幣投資虧損，但仍致力於數位資產

---

Key Points:

關鍵點：

• MicroStrategy reveals a net loss of $53.1 million in Q1 2024, largely attributed to a $191.6 million Bitcoin impairment charge.
• Revenue dipped by 5%, while operating expenses soared by 152.8%.
• Despite the setback, MicroStrategy maintains its bullish stance on Bitcoin, adding 25,250 BTC since 2023.

In a recent earnings report, MicroStrategy, a publicly traded company known for its significant investments in Bitcoin, disclosed a net loss of $53.1 million for the first quarter of 2024. This translates to $3.09 per share. The primary factor behind this loss was a substantial $191.6 million impairment charge on the company's Bitcoin holdings.

MicroStrategy 公佈2024 年第一季淨虧損5,310 萬美元，主要歸因於1.916 億美元的比特幣減損費用。看漲立場，增加了25,250 名比特幣自2023 年以來的BTC。相當於每股3.09 美元。這一損失背後的主要因素是該公司所持有的比特幣價值高達 1.916 億美元的減損費用。

Accounting Woes: Bitcoin Impairment Charge Bites

會計困境：比特幣減損費用

Impairment charges, an accounting practice, recognize the diminished value of an asset when its market value falls below its book value. In this case, MicroStrategy's Bitcoin holdings were marked down significantly, contributing to the reported loss.

減損費用是一種會計實踐，當資產的市場價值低於其帳面價值時，確認資產價值的減少。在這種情況下，MicroStrategy 的比特幣持有量大幅下跌，導致了所報告的損失。

Revenue Dip and Expense Surge

收入下降和支出激增

Further weighing on MicroStrategy's financial performance was a 5% year-over-year decline in revenue, which stood at $115.2 million. This dip was accompanied by a hefty surge in operating expenses, which rose by a staggering 152.8% to reach $288.9 million.

營收年減 5%，為 1.152 億美元，進一步影響了 MicroStrategy 的財務表現。伴隨著這一下降，營運費用大幅飆升，增幅高達 152.8%，達到 2.889 億美元。

Unwavering Bitcoin Belief

堅定不移的比特幣信仰

Despite these financial setbacks, MicroStrategy remains steadfast in its belief in Bitcoin's potential. The company's earnings report emphasized its commitment to advancing the Bitcoin network through its involvement in financial markets, advocacy, and technological innovation. MicroStrategy's distinctive Bitcoin strategy and strong operational history have enabled it to accumulate 214,400 bitcoins at an average purchase price of $35,180 each.

儘管面臨這些財務挫折，MicroStrategy 仍然堅信比特幣的潛力。該公司的收益報告強調了其透過參與金融市場、宣傳和技術創新來推動比特幣網路發展的承諾。 MicroStrategy 獨特的比特幣策略和強大的營運歷史使其能夠以每枚 35,180 美元的平均購買價格累積 214,400 個比特幣。

Cloud Business Success

雲端業務成功

While the Bitcoin investment has been a mixed bag, MicroStrategy's software business has shown signs of growth. During the first quarter, the company witnessed double-digit increases in both subscription services revenues and subscription billings. This suggests a successful transition of its software operations to a cloud-native platform.

雖然比特幣投資好壞參半，但 MicroStrategy 的軟體業務已顯示出成長跡象。第一季度，該公司的訂閱服務收入和訂閱帳單均達到兩位數成長。這顯示其軟體營運已成功過渡到雲端原生平台。

Bitcoin Buying Spree Continues

比特幣購買熱潮仍在繼續

MicroStrategy's faith in Bitcoin is evident in its ongoing acquisition of the digital asset. Since 2023, the company has added 25,250 BTC to its portfolio at an average price of $65,232. This brings the company's total Bitcoin holdings to 214,400.

MicroStrategy 對比特幣的信心從其對數位資產的持續收購中可見一斑。自 2023 年以來，該公司已在其投資組合中添加了 25,250 BTC，平均價格為 65,232 美元。這使得該公司的比特幣總持有量達到 214,400 枚。

Regulatory Shifts and Market Factors

監理轉變與市場因素

MicroStrategy attributes Bitcoin's recent price surge to the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States. This development, the company believes, has fueled institutional demand and provided regulatory clarity.

MicroStrategy 將比特幣近期價格飆升歸因於美國批准現貨比特幣交易所交易基金 (ETF)。該公司認為，這一發展刺激了機構需求並提供了監管透明度。

Michael Saylor Remains Bullish

邁克爾·塞勒仍然看好

Michael Saylor, MicroStrategy's charismatic executive chairman and co-founder, has repeatedly expressed his optimism about Bitcoin's future. He has indicated that the company has no immediate plans to sell any of its Bitcoin holdings. The approval of spot Bitcoin ETFs, he believes, is a positive step for the entire Bitcoin ecosystem.

MicroStrategy 迷人的執行主席兼聯合創始人 Michael Saylor 多次表達了他對比特幣未來的樂觀態度。他表示，該公司沒有立即計劃出售其持有的任何比特幣。他認為，現貨比特幣 ETF 的批准對整個比特幣生態系統來說是積極的一步。

Conclusion

結論

MicroStrategy's financial results for the first quarter of 2024 paint a complex picture. While the company suffered a loss due to a large Bitcoin impairment charge and other financial challenges, it remains unwavering in its commitment to the digital asset. MicroStrategy's Bitcoin accumulation strategy, combined with its ongoing software business success, suggests that the company is betting heavily on the long-term growth potential of Bitcoin and the broader cryptocurrency market.

MicroStrategy 2024 年第一季的財務表現描繪了一幅複雜的圖景。儘管該公司因巨額比特幣減損費用和其他財務挑戰而蒙受損失，但對數位資產的承諾仍然堅定不移。 MicroStrategy 的比特幣累積策略，加上其持續的軟體業務成功，表明該公司正在大力押注比特幣和更廣泛的加密貨幣市場的長期成長潛力。