MicroStrategy sells billions in Bitcoin, reports $8.3 billion loss

MicroStrategy disclosed that it sold about 3,558 Bitcoin, generating roughly $216 million in proceeds, and reported an $8. 31 billion unrealized loss on its holdings, CoinDesk reported. The Bitcoin sale amounted to approximately $216 million.

The unrealized loss reflects the current market valuation of the company's Bitcoin portfolio. The figures pertain to the second quarter. Analysts said the disclosure raises questions about MicroStrategy’s future capital-allocation strategy.