Michael Saylor’s Strategy, the new name announced earlier today for MicroStrategy Inc., had a fourth consecutive quarterly loss as the company registered a $1 billion impairment charge against its Bitcoin holdings.

Founded by Bitcoin advocate Michael Saylor, the company announced Wednesday that it will now be called Strategy and described itself as “the world’s first and largest Bitcoin Treasury Company.” Since 2020, the organization has accumulated more than $45 billion worth of Bitcoin, making it the single largest corporate Bitcoin holder.

Either MicroStrategy’s Michael Saylor is a visionary, or he’s a delusional egomaniac,” Forbes observed in 1998, during the company’s first incarnation as a Wall Street highflyer.