$BTC
$BTC $ETH Saylor's Strategy Is Now $7 Billion Underwater on Its Bitcoin Bet
’Michael Saylors Strategy is currently sitting on a paper loss of more than $7 billion on its 850,364 BTC stash. This happened after bitcoin slid below $67,000 earlier today.
Strategy’s Bitcoin Stack Slips Below Cost
The world’s largest corporate bitcoin holder is now officially in the red, with Strategy’s most recent 8-K filing with the SEC showing that the company held 850,364 BTC as of Nov. 9, bought for an aggregate $64.16 billion (at an average purchase price of $75,456 per coin, fees included).
Bitcoin is currently trading near $67,200 after a fresh leg down that briefly took it to about $66,580. At that price, Strategy’s holdings were worth roughly $56.9 billion, leaving an unrealized loss of about $7.2 billion.
The swing has been brutal because just about a month ago, Bitcoin.com News reported that Saylor’s firm was still $5 billion up on its bitcoin even after MSCI news knocked MSTR shares down nearly 10%.
That cushion is sadly now gone.
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Crypto Crash Drags BTC to a 3-Month Low
Saturday’s drop came fast after analysts reported over $330 million in liquidations across the crypto market in two hours. During that stretch, BTC fell under $67,000, ether under $1,900 and XRP under $1. Popular chartists noted that bitcoin had once again
#bitcoin #ETH #TradFiForBeginners #dYdXPlansV9.9UpgradeToShiftUSDCToInjective #PolkadotCommunityApprovesNewStrategyWith97%Vote
$BTC $ETH Saylor's Strategy Is Now $7 Billion Underwater on Its Bitcoin Bet
’Michael Saylors Strategy is currently sitting on a paper loss of more than $7 billion on its 850,364 BTC stash. This happened after bitcoin slid below $67,000 earlier today.
Strategy’s Bitcoin Stack Slips Below Cost
The world’s largest corporate bitcoin holder is now officially in the red, with Strategy’s most recent 8-K filing with the SEC showing that the company held 850,364 BTC as of Nov. 9, bought for an aggregate $64.16 billion (at an average purchase price of $75,456 per coin, fees included).
Bitcoin is currently trading near $67,200 after a fresh leg down that briefly took it to about $66,580. At that price, Strategy’s holdings were worth roughly $56.9 billion, leaving an unrealized loss of about $7.2 billion.
The swing has been brutal because just about a month ago, Bitcoin.com News reported that Saylor’s firm was still $5 billion up on its bitcoin even after MSCI news knocked MSTR shares down nearly 10%.
That cushion is sadly now gone.
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Crypto Crash Drags BTC to a 3-Month Low
Saturday’s drop came fast after analysts reported over $330 million in liquidations across the crypto market in two hours. During that stretch, BTC fell under $67,000, ether under $1,900 and XRP under $1. Popular chartists noted that bitcoin had once again
#bitcoin #ETH #TradFiForBeginners #dYdXPlansV9.9UpgradeToShiftUSDCToInjective #PolkadotCommunityApprovesNewStrategyWith97%Vote