Bitcoin Price Crash Leaves MicroStrategy with Over $600 Million in Losses
MicroStrategy Inc, the largest corporate holder of Bitcoin, is facing a deficit of $613 million after the recent price crash. The software firm currently holds over 150,000 Bitcoin, acquired at an average purchase price of approximately $29,970 per Bitcoin. Despite the unrealized losses, MicroStrategy’s chairman, Michael Saylor, remains committed to Bitcoin and has stated that the company will not sell its holdings.
Key Points:
- Bitcoin’s price fell by 11% in the past three days, leaving several BTC holders with unrealized losses.
- The percentage of Bitcoin supply in profits dropped from 73% to 60% in the last week.
- Long-term holders, who hold 75% of the cryptocurrency’s circulating supply, remain committed to Bitcoin.
- MicroStrategy’s MSTR stock is up 132% year-to-date but down 14.49% in the last five days.
Hot Take:
The recent price crash in Bitcoin has resulted in significant unrealized losses for MicroStrategy. However, the company’s chairman remains bullish on Bitcoin and is confident in its long-term potential. It remains to be seen how the market will recover from this downturn, but the commitment of long-term holders suggests that confidence in Bitcoin as an asset is still strong.
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