MicroStrategy (MSTR) posted a digital asset impairment charge of $197.6 million on its bitcoin (BTC) holdings in the fourth quarter, up from a $727,000 charge in Q3.

The company's digital asset impairment reflects the decline in the price of bitcoin versus the price at which the bitcoin was acquired. Under standard accounting rules the value of digital assets such as cryptocurrencies must be recorded at their cost and then only adjusted if their value is impaired, or goes down. But if the price rises, that does not get reported unless an asset is sold.