MicroStrategy's (NASDAQ:MSTR) bitcoin (BTC-USD) stash is taking a $1B hit as the world's largest digital token by market cap plunges to its lowest since December 2020. Earlier on Monday, Bitcoin (BTC-USD) dipped to as low as $22.6K before easing a bit to $23.5K as of shortly before 3:00 p.m. ET. That compares with around $30K just five sessions prior and an all-time record high of $67.5K in November 2021. As of May 19, MicroStrategy's (MSTR) average bitcoin price stood at $30.7K. In turn, MicroStrategy's (MSTR) bitcoin (BTC-USD) holdings are experiencing unrealized losses of over $1B, according to CoinDesk. Since it began acquiring bitcoins (BTC-USD) in August 2020, MicroStrategy (MSTR) has accumulated a position size of 129,918 bitcoins via sales of junk bonds and convertible notes, CoinDesk noted. Amid bitcoin's slump, the company's holdings are now valued at less than $3B. Meanwhile, it appears that MicroStrategy (MSTR) is taking measures to
Why Story (IP) Is Up Today?
