Strategy's $64 Billion Bitcoin Bet Now Sits on a $10 Billion Paper Loss

Michael Saylor's company Strategy has accumulated a massive amount of Bitcoin, owning 840,447 BTC at an average price of $75,482. This is roughly 4% of all Bitcoin in circulation and cost nearly $64 billion to acquire.

The current price of Bitcoin has dropped to $65,000, meaning that the company's position is now worth only $54 billion. As a result, Strategy is sitting on a staggering $10 billion paper loss.

This paper loss has real-world consequences for investors in Strategy's stock, which has plummeted 35% year-to-date compared to Bitcoin's 25% decline. This is because Strategy has always been a leveraged bet on Bitcoin, and its value is directly tied to the price of BTC.