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MicroStrategy, Tesla, Block faced a $5 billion hit on their Bitcoin bet in Q2

Tesla, MicroStrategy and Block owned about 85% of Bitcoin held by public companies, currently numbering 27 according to data by CoinGecko.
The three companies faced paper losses of up to $5 billion as Bitcoin price fell to $18,700 in June.
MicroStrategy, Tesla and Block (formerly Square) saw their combined Bitcoin (BTC) holdings shrink by $5 billion in value during the second quarter of 2022, Bloomberg reported .
$5 billion ‘paper losses’As Bitcoin price fell below $20,000 in June, with prices around $18,700 on June 30, the three firms’ combined losses were around $5 billion.
The post MicroStrategy, Tesla, Block faced a $5 billion hit on their Bitcoin bet in Q2 appeared first on CoinJournal.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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