The MSTR stock price continued its steep crash this week as the Bitcoin price tumbled and its fourth-quarter losses jumped. It crashed to $106, down sharply from the all-time high of $460. Its crash has led to a multi-billion-dollar wipeout, with the market cap dropping from over $130 billion to $35 billion.
MicroStrategy Losses Soared in Q4
A report released on Thursday confirmed that Strategy, formerly known as MicroStrategy, has become a fallen angel. It has moved from being a highly profitable company to making a $12 billion loss in the fourth quarter.
This loss was due to mark-to-market accounting on its vast Bitcoin holdings, which…