Those Bitcoin holdings went from an unrealized loss of $13 billion to an unrealized gain of $1.4 billion.
I saw the news on CoinDesk: the firm’s 840,447 BTC have returned to an unrealized profit state, with a profit ratio of about 2.4%.
These positions previously were once down roughly $13 billion unrealized. They just managed to hold through such a huge hole.
The market’s assessment of this company has been flip-flopping. When it was losing over $10 billion, lots of people said it would blow up; once it got back to even, it was all kinds of bullish talk again.
The company is still the same, and the positions haven’t changed.
The only thing that changed was the price coming back.
I saw the news on CoinDesk: the firm’s 840,447 BTC have returned to an unrealized profit state, with a profit ratio of about 2.4%.
These positions previously were once down roughly $13 billion unrealized. They just managed to hold through such a huge hole.
The market’s assessment of this company has been flip-flopping. When it was losing over $10 billion, lots of people said it would blow up; once it got back to even, it was all kinds of bullish talk again.
The company is still the same, and the positions haven’t changed.
The only thing that changed was the price coming back.