Bitcoin Fell 50% and MSTR, BMNR, BSTR Are Paying the Price: What's Happening?
Bitcoin treasury companies face massive unrealized losses as the crypto downturn crushes leveraged balance sheets and derails SPAC deals.
Bitcoin dropped a lot, which hurt companies that own lots of Bitcoin and borrowed money to buy even more. When you see a company that borrows heavily to invest in one thing, a big price drop hits extra hard.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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