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 world’s largest cryptocurrency by capitalization, bitcoin recorded on Wednesday, June 15, a new 18-month minimum at $20,181. Against the backdrop of a freeze on customer withdrawals and the suspension of 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.
Most injured Michael Saylor’s MicroStrategy became a company from the fall of the BTC, as the bitcoin bet represents a net loss and asset impairment of at least $1.2 billion. Prices range from $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, a 68.1% stake in 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.
Source: Bits
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