Bitcoin Burdens Balance Sheets of Tesla, Block, MicroStrategy and More
— Warned microstrategy chief financial officer phong le, Shorting bitcoin stocks could, Yeardepressed bitcoin markets, 5 million, 000 technically puts, Tech, Transactions .“ given, Company spent, Seetee parent aker ’, Cover — 1 min read
After buying bitcoin on its way up to $60,000, multiple major companies are deep in the red on their investments to date. Tesla, Block and Michael Saylor’s MicroStrategy have underperformed against bitcoin this year. Bitcoin has bombed almost 60%, from $47,700 to $20,000 as of 3 pm ET. Meitu, NEXONON and Akerker are also down 66% on their bitcoin investments, having lost 66% in their paper losses worth $2.16 billion to date, according to Bitcoin Treasuries data. Chinese photo app publisher Meitu's BTC is now worth only $18.4 million, down 63% after acquiring 941 BTC for an average price of $52,604 Source