Strategy faces $3.8 billion loss as Bitcoin sinks under $71K on Saylor’s birthday
Crypto Briefing
MicroStrategy's unrealized Bitcoin losses hit $3.8 billion as the cryptocurrency dropped below $71,000.Summary
MicroStrategy (MSTR), the world's largest corporate holder of Bitcoin, is facing unrealized losses of $3.8 billion on its crypto holdings following a sharp market downturn that pushed Bitcoin below $71,000. This price drop coincided with Michael Saylor's birthday. Bitcoin has fallen about 19% year-to-date. Strategy currently holds 713,502 BTC, which were acquired for roughly $54.3 billion at an average cost of about $76,000 per coin. The recent volatility also triggered $777 million in liquidations over 24 hours, primarily from long positions. MSTR shares have also been affected, closing down 3% on Wednesday and continuing to slip in after-hours trading.
(Source：Crypto Briefing)