Few companies can gain or lose nearly $1 billion on paper before Bitcoin (BTCUSD) moves even 2%. Strategy (MSTR) can. It owns 840,447 Bitcoin, which is enough for every $1,000 price change to add or erase $840 million in value from its holdings.
This exposure was terrible for the company in the past few months as Bitcoin tumbled from its highs. In fact, Strategy had a $13 billion paper loss on its books that investors started fleeing from.
