- Billionaire Michael Saylor’s MicroStrategy acquired 4,827 bitcoins.
- MicroStrategy shares fell on June 13 as a result, which came as no surprise.
The price of bitcoin has dropped to its lowest point since 2020. They are trading for roughly $22,513, down more than 7% in the previous 24 hours. According to some experts, the downturn hasn’t finished yet. A leading critic of bitcoin and cryptocurrencies, Peter Schiff, expects the price of the most popular digital currency will be at least $20,000.
Since November, the crypto market has lost more than $2 trillion, and its current value is roughly $950.85 billion, according to the most recent data. According to CMC, Bitcoin accounts for around 45 percent of the crypto market. It’s been more than six months since Bitcoin’s all-time high of $69,044.77.
Bitcoin on the Balance Sheet a Lot Less Valued
MicroStrategy (MSTR), Tesla (TSLA) and Block (SQ) are firms that hold Bitcoin on the balance sheet. The decline in bitcoin’s value has a wide variety of effects on them.
At an average price of $44,645, billionaire Michael Saylor’s MicroStrategy acquired 4,827 bitcoins in the first quarter of last year. The total amount spent on bitcoins by the company is around $3.97 billion. Since the company’s bitcoin holdings skyrocketed amid the spectacular rise of crypto in November, they are currently valued at $3.05 billion, according to Bitcoin Treasuries.
Because of his bitcoin investment, Saylor is down at least $1.04 billion. MicroStrategy shares fell on June 13 as a result, which came as no surprise. The stock price has dropped 24% from the previous day’s close of $153. That’s a decline of 72% since the beginning of the year. According to CMC, the Bitcoin price today is $22,513.46 USD with a 24-hour trading volume of $69,089,761,188 USD. Bitcoin is down 7.34% in the last 24 hours.