Bitcoin price plunges, investment companies lose billions
The ongoing weakening of the Bitcoin price is lowering the value of the investment portfolio of funds and organizations. MicroStrategy is currently the hardest-losing fund with a negative $1.2 billion.
The price of BTC has not ended and plummeted to less than $20,000. The digital currency is currently traded at $19,000, the lowest level since December 2020.
Bitcoin’s market capitalization within the last 24 hours has declined by 1.15% to $399 billion. Compared to the peak in November 2021, Bitcoin’s value and capitalization have evaporated above and below 70%.
In the last seven days, the value of the digital currency has decreased by 30%. Similarly, many other crypto-currencies also recorded deep reductions such as Ethereum (-38.29%), Binance (-24.24%), Cardano (-19.62%), XRP (-17.72%), Solana (-20.28%), Dogecoin (-27.42%).
The market’s global capitalization is now divided into three times, shrinking to $905 billion.
Since the Fed released its inflation report amounting to 8.6%, accompanied by its most robust rate hike since 1994, Bitcoin prices have been under constant sell-off pressure. The US stock market, especially the Nasdaq 100, which has volatility similar to Bitcoin, has also seen numerous downsizing sessions.
In addition, the emergence of the cryptocurrency market with much negative news, such as the collapse of LUNA or Celsius, also caused the psychology of the investment world to be shaken.
After investing in Bitcoin, many large companies and organizations are sinking into losses. According to Bitcoin Treasuries statistics, MicroStrategy is currently the world’s most publicly-held Bitcoin fund with 129,218 units, followed by electric car company Tesla (43,000 units), crypto mining company Core Scientific (8,497 units), crypto mining company Marathon Digital Holdings (8,133 units) and digital financial services company founded by former Twitter CEO Jack Dorsey (8,027 units).
After several acquisitions, MicroStrategy spent $3.9 billion to collect Bitcoin. However, the fund is losing about $1.2 billion at current market prices. Similarly, Tesla is at a loss of $600 million, and Square is at a loss of $52 million.
Due to crypto mining companies, the initial investment budget of Marathon Digital Holdings and Core Scientific cannot be determined.
Apart from the institutional system, the President of El Salvador Nayib Bukele’s Bitcoin investment fund also suffered heavy losses. According to the personal Twitter publication, the president has had ten catches totaling 2,301 Bitcoins.
According to Deutsche Welles, the country’s portfolio is losing an average of $40 million.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Bitcoin price plunges, investment companies lose billions
The ongoing weakening of the Bitcoin price is lowering the value of the investment portfolio of funds and organizations. MicroStrategy is currently the hardest-losing fund with a negative $1.2 billion.
The price of BTC has not ended and plummeted to less than $20,000. The digital currency is currently traded at $19,000, the lowest level since December 2020.
Bitcoin’s market capitalization within the last 24 hours has declined by 1.15% to $399 billion. Compared to the peak in November 2021, Bitcoin’s value and capitalization have evaporated above and below 70%.
In the last seven days, the value of the digital currency has decreased by 30%. Similarly, many other crypto-currencies also recorded deep reductions such as Ethereum (-38.29%), Binance (-24.24%), Cardano (-19.62%), XRP (-17.72%), Solana (-20.28%), Dogecoin (-27.42%).
The market’s global capitalization is now divided into three times, shrinking to $905 billion.
Since the Fed released its inflation report amounting to 8.6%, accompanied by its most robust rate hike since 1994, Bitcoin prices have been under constant sell-off pressure. The US stock market, especially the Nasdaq 100, which has volatility similar to Bitcoin, has also seen numerous downsizing sessions.
In addition, the emergence of the cryptocurrency market with much negative news, such as the collapse of LUNA or Celsius, also caused the psychology of the investment world to be shaken.
After investing in Bitcoin, many large companies and organizations are sinking into losses. According to Bitcoin Treasuries statistics, MicroStrategy is currently the world’s most publicly-held Bitcoin fund with 129,218 units, followed by electric car company Tesla (43,000 units), crypto mining company Core Scientific (8,497 units), crypto mining company Marathon Digital Holdings (8,133 units) and digital financial services company founded by former Twitter CEO Jack Dorsey (8,027 units).
After several acquisitions, MicroStrategy spent $3.9 billion to collect Bitcoin. However, the fund is losing about $1.2 billion at current market prices. Similarly, Tesla is at a loss of $600 million, and Square is at a loss of $52 million.
Due to crypto mining companies, the initial investment budget of Marathon Digital Holdings and Core Scientific cannot be determined.
Apart from the institutional system, the President of El Salvador Nayib Bukele’s Bitcoin investment fund also suffered heavy losses. According to the personal Twitter publication, the president has had ten catches totaling 2,301 Bitcoins.
According to Deutsche Welles, the country’s portfolio is losing an average of $40 million.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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