Bitcoin BTC/USD plummeted sharply Tuesday, causing a big dent in investors’ portfolios, including those of big corporate whales.
What happened: MicroStrategy Inc. MSTR, the company that has pioneered Bitcoin’s corporate adoption, sits on a reserve of 226,500 BTC, according to data from bitcointreasuries.net.
Following a 5.4% decline in the last 24 hours, King Crypto fell to $59,651, reducing the market value of MicroStrategy’s stash to $13.48 billion as of this writing. This meant that the so-called ‘Bitcoin Development’ company had unrealized losses of nearly $770 million in the last 24 hours.
The second-largest Bitcoin corporate holder, Marathon Digital Holdings Inc. MARA, held 25,000 BTCs worth $1.49 billion, down $90 million in the last 24 hours.
Similarly, tech juggernaut Tesla Inc. TSLA is estimated to hold 9,720 Bitcoins on its balance sheet, worth $579 million. Taking the 24-hour losses into account, Tesla…
