MicroStrategy, a major holder of 47,185,519,872 Bitcoins, announced on Thursday that its losses widened to $4.23 billion, or a loss of $16.49 per share, compared to a loss of $53.1 million, or a loss of $0.31 per share, in the same period last year. Analysts had expected a loss of $0.11 per share for the quarter. Revenue fell by 3.6% to $111.1 million. Analysts surveyed by FactSet had previously estimated it to be $116.6 million. In April, MicroStrategy had indicated that it expected to record a loss for the first quarter and warned that further losses would occur as the value of its cryptocurrency holdings declined. At that time, the company stated that it had not purchased more Bitcoins since the end of the quarter.