The biggest corporate holder of bitcoin is facing a reckoning ...Middle East

Quartz - Economy
The biggest corporate holder of bitcoin is facing a reckoning
MicroStrategy is famous for owning more bitcoin than any other publicly-traded company. As of June 14, the Virginia-based business intelligence company holds 129,218 bitcoins, more than two-and-a-half times as much as Tesla, the next largest bitcoin owner. That bitcoin is now worth about $2.9 billion, less than half of the roughly $6 billion it was worth just two months ago.MicroStrategy chief Michael Saylor believes so deeply in the promise of the primordial cryptocurrency that the company took out a $205 million loan from Silvergate Bank to buy $190 million worth of bitcoin in April. But since then, the cryptocurrency market, which was already slumping, has gone into free fall.“Bitcoin nee

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