MicroStrategy's Stock Plunges 20% Daily as Company's BTC Position Down $1B

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The recent declines in both crypto and stock markets have harmed MicroStrategy and its share prices.

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.

 

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