Hello, My English is pretty basic. But I can provide references to you.

https://www.microstrategy.com/en/investor-relations/press/microstrategy-announces-fourth-quarter-2020-financial-results
This Q4 statement refer:
MicroStrategy accounts for its digital assets as indefinite-lived intangible assets, which are initially recorded at cost. Subsequently, they are measured at cost, net of any impairment losses incurred since acquisition. MicroStrategy determines the fair value of its bitcoin based on quoted (unadjusted) prices on the active exchange that MicroStrategy has determined is its principal market for bitcoin.  MicroStrategy considers the lowest price of one bitcoin quoted on the active exchange at any time since acquiring the specific bitcoin.  If the carrying value of a bitcoin exceeds that lowest price, an impairment loss has occurred with respect to that bitcoin in the amount equal to the difference between its carrying value and such lowest price.  Impairment losses are recognized as “Digital asset impairment losses” in MicroStrategy’s Consolidated Statements of Operations

For example if MSTR buy the price 50000 of bitcoin. If the lowest price of bitcoin in Q4 was 45000(just example). MSTR need to recognize 5000 one bitcoin impairment in Q4.
It's no matter bitcoin price up to 50000 even 60000.The benifit will not show in statement.
Because bitcoin now is an intangible asset is an identifiable non-monetary asset without physical substance.