On Wednesday, the world's largest corporate Bitcoin holder $MicroStrategy (MSTR.US)$ reported a loss for the fourth consecutive quarter, as the company recorded impairment losses on its holdings of Cryptos. The company recorded a digital Assets impairment loss of 1.01 billion USD for the quarter, compared to 39.2 million USD for the same period last year.

Strategy, formerly known as MicroStrategy, was founded by Michael Saylor. With the popularity of Bitcoin, the company has become one of the biggest beneficiaries. Last year, its stock price increased by 358%, helping it to enter the NASDAQ 100 Index in December.

Due to a decline in Software business income, the company began buying and Holding Bitcoin in 2020. As of February 2, Strategy holds about 471,107 Bitcoins. Last year, Strategy announced plans to raise 42 billion dollars over the next three years to purchase more Bitcoins.

For the three months ending December 31, the company reported a net loss of 0.6708 billion USD, resulting in a loss of 3.03 USD per share, whereas the profit for the same period last year was 89.1 million USD, or 50 cents per share.

Earlier that day, the company announced it would be renamed 'Strategy' and launch a new logo to emphasize its commitment to the field of Cryptos. The company stated that this rebranding was a 'natural evolution' aimed at integrating Bitcoin—the largest and most well-known Crypto in the world—into its core business.

Bernstein Analyst Gautam Chughani stated that the company might want to emphasize Bitcoin as its core business and distance itself from the now less important Software division.

The company continues to actively invest in Bitcoin. In a statement on Wednesday announcing a rebranding, MicroStrategy defined itself as the world's "first and largest Bitcoin treasury company."

The company stated that its new logo features a stylized "B", symbolizing its Bitcoin strategy.

Editor/rice