MicroStrategy’s paper loss on its held bitcoins exceeded $1 billion, according to data from Bitcoin Treasuries.
The company holds 129,218 BTC in reserves. The average purchase price per BTC is about $30,700.
As of writing, the value of MicroStrategy’s Bitcoin holdings is about $2.9 billion. By way of comparison: earlier in June, the figure exceeded $4 billion.
On June 13, the Bitcoin price fell below $23,000. At the time of writing, quotes had risen to around $23,200. The drop over the last 24 hours was 18%, according to CoinGecko.
The opening of the trading session for MicroStrategy shares began with a 25.24% decline. Currently, MSTR quotes are at $155 (-23.78%). Since the start of the year, the securities have fallen 72%.
Earlier this year, in May, MicroStrategy Chief Executive Michael Saylor said the company had no plans to sell its bitcoin. In the same month, he promised to continue buying the leading cryptocurrency.
In June, MicroStrategy head called digital gold “the most reliable thing in a volatile world.”
Subscribe to ForkLog’s news updates on Telegram: ForkLog Feed — all the news, ForkLog — the most important news, infographics and opinions.