MicroStrategy lost about a billion dollars as cryptocurrencies fall

MicroStrategy lost just over $170 million in May. That same month, CEO Michael Saylor said his company had no plans to sell bitcoins. Since August 2020, MS has bought back 129,218 bitcoins. The firm has spent $3.96 billion to do so. That portfolio is now worth $3.03 billion, and it continues to depreciate. In November, the company could have had $8.8 billion when bitcoin was above $68,000.