As the bear market bites, holding crypto investments can be a tough pill to swallow. Consider two of the largest bag holders of publicly traded companies. They are down by almost $2 billion dollars on their Bitcoin buys.
According to Bitcointreasuries.net, the 130,000 and 43,00 Bitcoin (BTC) held by Microstrategy and Tesla respectively are worth considerable sums less.
The top “Hodlers” of Bitcoin according to Bitcointreasuries.net
For Microstrategy, Michael Saylor splashed out almost $4 billion ($3,965,863,658) on 129,218 BTC, approximately 0.615% of the 21 million total supply. The Bitcoin price nosedive has ripped away earlier gains: the investment is worth $3.1 billion ($3,074,987,824), a loss of $900 million. Plus, in premarket trading on June 13, Microstrategy stock (MSTR) plunged to its lowest levels in months.
For Elon Musk, whose Tesla