The sharp fall wave, which has an earthquake effect in crypto money markets, especially Bitcoin, continues to deeply affect the entire ecosystem.
Especially after the decline in Bitcoin price, El Salvador, which holds a significant amount of Bitcoin in its treasury, and MicroStrategy, Tesla and Block, the companies with the highest Bitcoin in their balance sheets, continue to write losses on their BTC assets.
El Salvador has 2,301 BTC
El Salvador, the first country to declare Bitcoin as a legal currency, has continued to purchase BTC with various initiatives to develop its economy based on Bitcoin since October last year.
It is known that El Salvador currently has 2,301 BTC, which he bought at an average price of $ 45,171. The country's Bitcoin assets are equivalent to $103.94 million in dollar terms, based on the average purchase price.
If we take the current price of Bitcoin as $ 24,000, the value of BTC held by the country is equivalent to $ 55.22 million. Accordingly, El Salvador has a loss of 47 percent and its unrealized loss is currently calculated as $48.7 million.
MicroStrategy, the corporate company holding the most Bitcoin
MicroStrategy was one of the companies that triggered the bull season with Bitcoin purchases in the crypto money markets in 2020.
The average purchase price of MicroStrategy, which added 129,218 BTC to its balance sheet during this time, is known as $ 30,700. Accordingly, the average Bitcoin cost of the company was approximately $ 3.97 billion. 129,218 BTC is down to $3.1 billion at the current price. Accordingly, MicroStrategy's loss from Bitcoin is estimated at approximately $865.8 million, with a loss of close to 22 percent.
Latest situation at Tesla
Elon Musk's electric vehicle company Tesla is known to be among other large companies holding Bitcoin. The company is estimated to have around 42,000 BTC in its portfolio. The average purchase price of this amount is $ 31,620, while Tesla's Bitcoin cost is about $ 1.33 billion.
Compared to Bitcoin's $24,000 price, the value of BTC in Tesla's portfolio has dropped to about 1 billion dollars. This means a loss of $330 million, down 24 percent.
Block, the company that buys Bitcoin for the cheapest
Block, the company of former Twitter CEO Jack Dorsey, is among the first companies to support Bitcoin. One of the biggest advocates of Bitcoin, Jack Dorsey's company, Block, is known to hold 8,207 BTC in its portfolio.
The average purchase price of Block is estimated at $27,407, while the Bitcoin cost is approximately $225 million. When calculated over the current price, the BTC value of the company is approximately 197 million dollars. Accordingly, with a loss of 12 percent ($ 28 million) compared to other high-volume Bitcoin holding countries and other institutions, Block is currently the company with the least loss from BTC.
It is assumed that the amount of Bitcoin on the balance sheet of these companies exists according to their last quarterly financial reports. Whether there are any sales in the April - June period will be revealed in the financial reports for the second quarter of 2022.