Arguably the world’s biggest crypto buyer MicroStrategy is facing its largest unrealized loss to date amid continued volatility in its Bitcoin-heavy balance sheet.
The company’s stock MSTR has also come under heavy pressure, falling around 77 percent from its all-time high, with the stock’s current balance down by almost $20 billion.
The company, led by its long-standing Bitcoin accumulation strategy, is now said to be down roughly 17 percent on its overall Bitcoin holdings after six years of purchases.
During the same period, the broader market has moved in the opposite direction, with the S&P 500 rising about 116 percent.
Recent figures also suggest that after selling a small tranche of 32 Bitcoin at approximately $77,135 per coin, the company’s remaining position has declined further in value. This pushed total losses to an estimated $11.8 billion on that adjustment basis.
The situation has created a severe drawdown phase for one of the most aggressive corporate crypto-strategy companies in history.