Michael Saylor Loses $47 Billion Unrealized Profit As Bitcoin Dumps Below Strategy's Cost Basis

Strategy (NASDAQ:MSTR) is now $630 million underwater on its Bitcoin (CRYPTO: BTC) holdings, wiping out $47 billion in unrealized profits from just four months ago as Bitcoin plunged below the company’s $76,037 average cost basis. The Profit Wipeout Bitcoin fell 15% in the first four days of February, pushing Strategy’s position underwater for the first time since the company began accumulating in August 2020. The company is down on its total Bitcoin holdings as long as the price stays below $76,000, des ...