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Fortune

Catherine McGrath

Bitcoin giant Strategy takes loss to stave off likely tax hit—and keeps buying Bitcoin

Strategy Bitcoin MicroStrategy Michael Saylor

(Credit: Liam Kennedy—Bloomberg/Getty Images)

Bitcoin investment company Strategy, formerly MicroStrategy, reported its fourth consecutive quarterly loss in an attempt to avoid a potential multibillion-dollar tax hit.

The company said Wednesday it had a fourth-quarter net loss of Bitcoin holdings. The charge reflects the total dollar amount the company’s Bitcoin holdings decreased throughout the quarter, as a result of Bitcoin’s volatile price fluctuations.

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