Michael Saylor’s Strategy, the new name announced earlier today for MicroStrategy Inc., had a fourth consecutive quarterly loss as the company faced 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.

Michael Saylor is everywhere, and now he’s on the cover of Forbes in an issue released Jan. 30. The 59-year-old CEO of MicroStrategy was pictured grinning under the bold title, “The Bitcoin Alchemist,