Accodring to coindesk. Michael Saylor’s MicroStrategy (MSTR) is sitting on an unrealized loss of more than $1 billion on its bitcoin (BTC) holdings as the price of the largest crypto by market value touches $22,900 in Monday trading.
The CEO of the technology company began purchasing bitcoin in August 2020 at a price just under $12,000. Subsequent purchases over the following months brought the company’s holdings to 129,918 bitcoin, now valued at under $3 billion, compared with what’s a near-$4 billion investment.
Much of the funding of MSTR’s buys came via junk bond and convertible note sales.
Last month, Saylor dismissed talks of a margin call, stating that a problem would occur only if bitcoin reached $3,562.
MicroStrategy shares are down 24.32% on Monday as it leads the sell-off in crypto-related stocks.
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FULL ARTICLE HERE: https://www.coindesk.com/business/2022/06/13/microstrategy-now-down-1b-on-its-bitcoin-bet/
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0:00 Michael Saylor’s Bitcoin Investment is down $1,000,000,000
0:30 Should you DCA into Kadena as a back up to BTC?
1:15 I do not Trust Coindesk!
2:15 Coindesk Said Michael Saylor has lost 1 Billion Dollars investing in Bitcoin!
3:10 I am Finally a Whole Bitcoiner!
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