MicroStrategy’s Bitcoin Bet Backfires: Reports Massive Fourth Quarter Loss – Here’s What You Need to Know

Bitcoin (BTC) bull Michael Saylor’s big bet may be about to backfire for his company MicroStrategy, after the firm on Thursday reported a massive loss for the fourth quarter of last year.
The net loss for MicroStrategy for the fourth quarter ended up at $249.7m, with the number dragged down significantly by a $197.6m loss from the firm’s bitcoin investment strategy, the report revealed….
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