Saylor’s Strategy Has $17.44 Billion Unrealized Loss in Fourth Quarter

Bitcoin accumulator Strategy Inc. had a $17.44 billion unrealized loss in the fourth quarter tied to the decline in the value of the Michael Saylor-led company’s roughly $63 billion cryptocurrency stockpile.

The company adopted accounting standards last year that required it to include the fair value of its Bitcoin holdings in its earnings. The change has triggered multibillion-dollar swings between profits and losses in the the previous three quarters. In the year-earlier period, Strategy had a net loss of $670.8 million, or $3.03 a share. Strategy also had a $5 billion deferred tax benefit in the most recent quarter, the Tysons Corner, Virginia-based firm said in a US Securities and Exchange Commission filling Monday.