Bitcoin’s largest corporate holder shocks Wall Street – Strategy’s business value shrinks to negative $10.2 billion
Strategy Inc, the world’s largest corporate holder of Bitcoin, has entered a situation many believed would never happen. For the first time, the company’s market cap has dropped below the value of its Bitcoin holdings.
The firm owns 650,000 Bitcoin, currently valued at around $55.9 billion. Yet investors have pushed Strategy’s market capitalisation down to about $45.7 billion, meaning Wall Street is effectively valuing the underlying business at negative $10.2 billion.
