Software analytics company MicroStrategy recorded a $34 million loss after its first bitcoin sale last quarter, Cointelegraph writes.

Recorded impairment losses on its BTC assets, net of gains on the sale, totaled nearly $1.3 billion for the full year 2022.

MicroStrategy CFO Andrew Kang said the company may consider additional transactions to take advantage of BTC price volatility that are in line with its long-term strategy.

The company measures its stock returns on several different benchmarks, among which the most important benchmark is BTC performance.

Since MicroStrategy first announced its purchase of BTC in August 2020, the company has been able to outperform bitcoin during that time: since August 2020, parallel to BTC’s 98% growth, the company’s stock has risen 117%.

As of December 31, 2022, MicroStrategy owned a total of 132,500 BTC worth $1.84 billion, of which 14,890 BTC belonged directly to the parent company and the rest were held by its subsidiary MacroStrategy LLC.