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.
Michael Saylor Loses $47 Billion Unrealized Profit As Bitcoin Dumps Below Strategy's Cost Basis
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MicroStrategy (NASDAQ:MSTR) is $630 million underwater on its Bitcoin holdings after BTC fell below the company's $76,037 average cost basis, erasing $47 billion in unrealized profits from four months ago; BTC fell 15% in the first four days of February, pushing MicroStrategy's position underwater for the first time since it began accumulating in August 2020.
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