Business intelligence American-based company MicroStrategy is now at a loss of $330 million on its Bitcoin investment. The software company has accumulated a large holding of Bitcoin more than 129,000 BTC.

MicroStategy’s big bet on Bitcoin the world’s largest cryptocurrency over the past two years is now underwater due to the crypto market tumble.

Bitcoin traded at $28,500 on Thursday in a slight recovery having gone below $27,000. MicroStategy’s cost basis was roughly $30,700 per Bitcoin according to its first-quarter earnings report.

MicroStategy’s stock enjoyed success alongside Bitcoin in late 2020 and into last year. Currently, it is also reflecting the tumult facing the crypto market generally which has been rocked in recent times, causing investors to flee risky assets. MicroStategy’s shares are also down by about 87% from their Bitcoin era-highs of $1,315 on February 9, 2021.

On March 29, a subsidiary of MicroStategy closed a $205 million loan to acquire more Bitcoin. The loan issued by Silvergate bank is now the subject of attention as Bitcoin slides. Last week on MicroStategy’s earning calls, CFO Phong Le said the company could face a margin call if Bitcoin fell below $21,000, based on the terms of the loan-to-value (LTV) ratio from Silvergate.

Featured image source: TheNewsCrypto.