- BTC sumps down below $24K.
- MicroStrategy’s BTC holdings at $1 Billion loss.
- MicroStrategy’s stocks fell by 25%.
As every minute passes by, so much worse gets the crypto market to date. The entire market is crashing down at an exponential rate. Also, the major game players like the Bitcoin (BTC) and the Ethereum (ETH) are way down below their average minimum support points.
In such a scenario, the overall crypto industry and market along with all other firms based upon BTC and crypto are now directly facing huge exponential losses. Amidst all this, MicroStrategy, America based Business intelligence and software firm is currently facing huge losses.
Majority of the losses are on accounts of the BTC holdings that MicroStrategy is in possession of. Currently, the overall losses incurred for MicroStrategy with BTC sunking dead down estimates to about roughly $850 million. Moreover, this ought to increase in the next few hours, touching $1 Billion!
This is directly in concern with the price of BTC, if BTC touches prices of $22,960 and below. Accordingly, BTC has now attained extreme lows for the past 18 months, for the price at just $23,900. However, currently BTC is trading for the price of $22,931, with the graphs down by 17.70%, taking into consideration the past 24 hours alone.
MicroStrategy’s Complete Losses
In spite of all the above, taking into consideration only the BTC holdings, MicroStrategy has currently incurred losses of more than $1 Billion.
On such regards, previously the CEO of MicroStrategy, Michael Saylor stated that it will become an issue of MicroStrategy, only if BTC reaches the price of $3,500 and less. Till then, the CEO can’t be afraid, and assures the best from MicroStrategy.
On the other hand, the stocks of MicroStrategy (MSTR) are also on the hell’s loose, with the stocks falling down below 29%. In addition to MicroStrategy, other firms which have invested a big part in BTC, are also with their stocks down below 15%. These are Marathon Digital Holdings, Riot Blockchain Inc, Coinbase Global Inc, and much more.