Bitcoin losses are piling up for companies that added the crypto to their balance sheet. Here's what the recent crash has cost Tesla & Microstrategy,
The price of Bitcoin has continued to fall in recent months, and many companies have been affected by the daily decline, causing many companies that bought Bitcoin such as Tesla and MicroStrategy to face losses.

In early 2021, electric car brand Tesla once spent US$1.5 billion to purchase bitcoin as a capital reserve to increase asset flexibility.

However, the market value of 43,200 bitcoins held by Tesla hit a new high on November 10 last year, but recently the market value fell to US$960 million, with a loss of about US$530 million.

In addition, MicroStrategy, a software company founded by Michael Saylor, started to purchase multiple bitcoins two years ago. As of now, MicroStrategy has spent a total of US$3.97 billion to purchase as many as 129,000 bitcoins, but the current market value now indicates that there are only about 2.89 billion US dollars left, and a loss of more than 1 billion US dollars.

In the face of huge losses, Saylor responded that he was aware of high risks when he bought Bitcoin, so even if the price of Bitcoin plummeted, it would not affect MicroStrategy's decision to hold Bitcoin. Once Bitcoin fell to $3,562, MicroStrategy will raise new collateral to ensure that the company can operate normally.

The payment company Block founded by Twitter founder Jack Dorsey also invested 220 million US dollars and purchased about 8,027 bitcoins. The total market value is only 179 million US dollars, and the loss is nearly 41 million.
Axact

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