Andrew Kang, CFO of Microstrategy, said that the company increased its total Bitcoin holdings to approximately 132,500 BTC during the fourth quarter of 2022. That amount had a market value of $2.194 billion at the end of the quarter on Dec. 31, 2022.

Though Microstrategy’s Bitcoin holdings rose overall, the firm has seen cumulative impairment losses of $2.153 billion since its earlier investments. As such, its 132,500 BTC had a carrying value (the cost of the asset minus depreciation) of $1.84 billion on Dec. 31.