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Ahmed Barakat
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CryptoNews Editorial Team
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June 2026 crypto method they just cleared $62 billion in combined market capitalization from public companies that own Bitcoin as a financial asset.
MicroStrategy, Tesla, and Marathon Digital are leading the charge. The relevant question now is not whether the losses can be recovered; that is if all the features he created were possible to begin with.
Corporate Bitcoins rose after MicroStrategy’s $250 million initial public offering in August 2020, clearly designed as a hedge against the dollar’s slide.
By the end of 2025, more than 200 companies will collectively handle $150 billion in digital assets. They bought near cycle highs. Bitcoin then fell almost 50% from its peak. The math on that list is not difficult.
This is either a partial experiment in which the most powerful survive, or the market is revealing that Bitcoin Treasury’s stable, market-neutral economy is systematically broken. This whole story makes it very close to the end.
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MicroStrategy and Bitcoin Balance Sheet Mechanics Are Dangerous
The waythe newly formed MicroStrategy, holds 843,706 BTC at a purchase price of approximately $75,599 per coin.
With Bitcoin sliding to $60,000 at the time, the site is carrying around $11 billion in unrealized losses. Each $ 1,000 to move BTC exchange paper space is $ 713.5 million.
Under the FASB’s revised amortization rules by 2026, unrealized losses flow directly through net income, causing EPS to become more distorted for individual filers.
For a company that has built its investor proposition around the accumulation of Bitcoin, to say that the loss of billions is not wrong; and drugs.
Across the eight largest pure-play Bitcoin companies, control over 850,000 BTC together, unrealized assets were already more than $10 billion before the latest leg down.
Artemis data from February 2026 showed unrealized losses for all crypto companies over $20 billion, even then, and no major company made a profit on BTC during that time.
The loss of market capitalization now seen throughout the sector is not a surprising result. It was obvious.
Investor Michael Burry has described the power as a “Reflexive unwind”BTC’s falling prices suppress liquidity, close the output window, and transform the brand from perpetual accumulation to survival-selling.
His analysis shows $60,000 as part of the Strategy’s problems in particular, where capital markets are effectively closed and billions of losses are locked in rather than speculative.
