Strategy's $13 billion bitcoin paper loss is larger than dogecoin, cardano and chainlink combined

Strategy (MSTR) is sitting on over $13 billion in unrealized bitcoin losses, a paper loss larger than the entire market caps of dogecoin, monero, cardano and chainlink. The company holds 844,000 BTC bought at an average of $75,600.

• Strategy holds roughly 844,000 bitcoin acquired at an average price near $75,600, now trading near $60,000.
• The $13 billion paper loss exceeds the market caps of dogecoin ($11.5-12.7B), monero, cardano, chainlink and many other tokens.
• Under fair-value accounting rules, the losses flow through Strategy's income statement, generating large quarterly losses.
• Supporters view the losses as temporary volatility in a long-term digital gold thesis.
• Critics say the concentration of bitcoin in one company contradicts crypto's decentralization ideals.

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