For instance, MicroStrategy lifted its debt offering to $1 billion to buy BTC last week. Meanwhile, Bank of New York and MasterCard announced they will be accepting the digital currency. The interest showcased by both financial institutions and billionaires in Bitcoin helped give the digital token the boost it needed.
However, Monday’s Bitcoin dip resulted in over $13.6 billion BTC losses to companies that invested in the digital currency. For instance, MicroStrategy’s owned Bitcoin value was about $4.1 Billion. The shocking market dip turned MicroStrategy’s BTC holdings into a $3.8 Billion — a decline of more than $336 million.
Additionally, the total value of BTC held by 41 companies and institutional investors combined had shed $13.6 billion — turning $76.6 billion to $63.1 billion in less than 24 hours.
Elon Musk’s Tesla would have made over $1 billion from Bitcoin if Musk didn’t make the “seems high” announcement. The electric car manufacturer could have profited from its $1.5 billion investment if it sold Bitcoin when it was trading at $58,000.
