The recent SEC filings of MicroStrategy’s and Tesla’s quarterly reports for the first quarter of 2021 provide a first look at each company’s Bitcoin investing strategy and performance. The filings create an impression of vast differences between the two companies.
The difference in strategy is real, but the apparent differences in performance are partly real and partly a matter of creative accounting.
MicroStrategy HODLs, Tesla Trades
MicroStrategy’s Form 10-Q quarterly report described the fundamental change in corporate strategy in the first quarter of 2021 that CEO Michael Saylor announced in February. MicroStrategy began buying Bitcoin on a large scale in ...
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