Tesla, MicroStrategy, and Block’s bet on Bitcoin (BTC) led to a combined loss of $5 billion on the books in the second quarter, Bloomberg News reported on July 22. According to the report, Bitcoin’s 59% decline during the quarter led to staggering losses for these companies based on their previous holdings disclosure. MicroStrategy MicroStrategy makes…
MicroStrategy, Tesla, and other public companies holding Bitcoin face significant impairment losses as Bitcoin (BTC) closed the second quarter below $19,000. MicroStrategy BTC holding down 58% According to Bloomberg News, MicroStrategy could report a significant impairment loss of $3.4 billion due to the sharp decline in BTC prices between April and June 2022. The company…