Strategy Suffers Multibillion-Dollar Loss on Declining Bitcoin Value

Strategy Inc., led by Michael Saylor, has reported an $8.22 billion loss for the second quarter due to the declining value of its Bitcoin holdings.

The company's roughly $58 billion horde of Bitcoin fell in value as the cryptocurrency itself declined 14% during the recent quarter and was down more than 45% at the end of June from a year earlier.

This is Strategy's second multibillion-dollar loss tied to its Bitcoin holdings, following a similar write-down in the previous quarter.