MicroStrategy, the largest corporate BTC holder, is once again in the red on its massive bitcoin position. Moreover, the company’s stocks have gone on a freefall today, with a double-digit price slump leading to a multi-year low.What started in the summer of 2020 – after the COVID-19 pandemic had broken out – became a crypto-world phenomenon.
Following the latest reported purchase earlier this year, MicroStrategy’s BTC holdings are now 129,218 BTC. The company accumulated them at an average price of approximately $30,700. However, this means that the Michael Saylor-spearheaded organization now sits in an unrealized loss since BTC plummeted in the past few days andSimple math shows that MicroStrategy spent just under $4 billion to acquire all its bitcoin holdings. With BTC currently trading at $23,300, this means that the company’s position is now worth around $3 billion, representing a total unrealized loss of a whopping one billion.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »