Michael Saylor’s Strategy, the new name announced earlier today for MicroStrategy Inc., had a fourth consecutive quarterly loss as the company registered a $1 billion impairment charge against its Bitcoin holdings.

Founded by Bitcoin advocate Michael Saylor, the company announced Wednesday that it will now be called Strategy and described itself as “the world’s first and largest Bitcoin Treasury Company.” Since 2020, the organization has accumulated more than $45 billion worth of Bitcoin, making it the single largest corporate Bitcoin holder.

The company, co-founded and chaired by Michael Saylor, now owns more than $45 billion worth of bitcoins. Strategy described itself as 'the world’s first and largest Bitcoin Treasury Company', and a 'business intelligence' company listed on Nasdaq 100.