MicroStrategy, Tesla, Block faced a $5 billion hit on their Bitcoin bet in Q2

Tesla, MicroStrategy and Block owned about 85% of Bitcoin held by public companies, currently numbering 27 according to data by CoinGecko.
The three companies faced paper losses of up to $5 billion as Bitcoin price fell to $18,700 in June.
Tesla sold 75% if its bitcoins in Q2.MicroStrategy, Tesla and Block (formerly Square) saw their combined Bitcoin (BTC) holdings shrink by $5 billion in value during the second quarter of 2022, Bloomberg reported.
The hit comes after a 59% dive for BTC price i