The losses are growing among firms that are primarily focused on amassing cryptocurrency, with BMNR down around $8.4 billion on its Ethereum purchases as Strategy holds $9.2 billion in paper losses on its consistent Bitcoin buys.
The unrealized losses have quickly multiplied on account of the top crypto assets slide in the last week. BTC, which is down 13% in the last 24 hours, has fallen 24% in the last seven days to change hands around $63,708.
Meanwhile, Ethereum has fared even worse, dropping almost 34% in the last seven days and falling to its lowest mark since last May, recently changing hands around $1,867.
The Artemis data does not include crypto-centric firms that have a primary business focus outside of buying and holding assets—such as exchange Coinbase and mining firm Riot Platforms—or companies with a core business outside of crypto that have amassed a position in digital assets (like Tesla and GameStop).
Despite a major drop in prices for the asset, Strategy co-founder and Executive Chairman Michael Saylor remains undeterred, recently telling followers on X that there are only two rules related to Bitcoin.
With the losses mounting, predictors on Myriad’s prediction market believe it’s more likely that Strategy may sell some of its BTC holdings sometime this year. In the last week, odds of the firm selling any of its 713,502 BTC have jumped to around 32%.
It’s not just the leading treasuries or those stacking BTC or ETH that are hurting, though. The Artemis dashboard accounts for more than $25 billion in losses, including around $1 billion in unrealized losses for Solana treasury firm Forward Industries and more than $100 million in paper losses for firms stacking Hyperliquid (HYPE) and BNB.
