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.
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