Strategy Inc Suffers $8.22 Billion Loss on Declining Bitcoin Price

Strategy Inc (Nasdaq: MSTR), also known as Strategy, has reported a massive $8.22 billion loss in its second quarter financial results. The company, which is the largest institutional holder of Bitcoin, saw its balance sheet take a hit due to a decline in the price of BTC.

The company's bitcoin holdings grew by 11% to 846,000 units during the period, but this was not enough to offset the losses caused by the decline in the market value of BTC. Strategy's convertible debt decreased by 18% to $6 billion during the same period.

In a statement announcing its financial results, Strategy said it had grown its USD Reserve to $3.75 billion and paid out over $1.06 billion in cumulative dividends on all preferred stock.