Strategy Cuts Outlook, Establishes $1.44 Billion Reserve Amid Bitcoin Selloff

Strategy cut its outlook and sold shares to establish a $1.44 billion U.S. dollar reserve as the company contends with a recent slide in Bitcoin prices.

The bitcoin treasury company on Monday said it now expects to report between a loss of $5.5 billion and profit of $6.3 billion for the year, or between a loss of $17 and a profit of $19 on a per-share basis.