The largest company investing in the first cryptocurrency, MicroStrategy, calculates huge losses from falling quotes on the crypto market. However, management considers this a temporary phenomenon.
The largest cryptocurrency in the world by capitalization, bitcoin, recorded on Wednesday, June 15, a new 18-month low of $20,181. Against the backdrop of freezing customer withdrawals and suspending operations by the crypto lender Celsius, this led to the fall of “smaller cryptocurrencies” and the market as a whole. BTC has fallen since its all-time high of $69,000 in November 2021 by about 70%.
Data from CoinMarketCap shows that the value of the global crypto market has fallen threefold since November, to below $887 billion from its then peak of $2.97 trillion.
The company most affected by the fall in BTC was Michael Saylor’s MicroStrategy, since the bitcoin bet represents a net loss and asset impairment of at least $1.2 billion. MicroStrategy owns 129,218 bitcoins, 4,827 of which were purchased in the first quarter of 2022 in The midrange price range is $30,700 to $44,645. By comparison, Tesla owns 43,200 BTC worth about $1.7 billion.
In an official MicroStrategy report filed with U.S. regulators on April 14, 2022, Saylor assessed the success of his company, stating that the policy of acquiring bitcoin proved to be correct and that the strategy for acquiring and holding BTC has been and will continue to be a significant success.
The businessman himself owns a controlling stake, 68.1% of the shares of MicroStrategy.
The other day, Michael Saylor made a statement in which he emphasized that nothing threatened his company, and when MicroStrategy bet on bitcoin, the company’s management took into account the volatility of the crypto market and the impact of market turbulence.
