Bitcoin crash is now a chain reaction: listed companies have lost money, Tesla and Mito have become "leeks"

Sina Finance blockchain 2022-05-14 11:08:39 阅读数:670


source : Chinese times

 Our reporter Zhao Yi Hu Jinhua Shanghai

Our reporter Zhao Yi Hu Jinhua Shanghai

5 month , The cryptocurrency market has ushered in “ The cold winter ”.5 month 12 Japan , Bitcoin experienced a sharp decline , The trading price fell below 2.7 Thousands of dollars , Minimum touch 26700 dollar , gen 2020 year 12 New low since the month . By the end of time , The recent price of bitcoin is 30367.52 dollar , Although it has rebounded to 3 Over ten thousand dollars , But distance 6.88 The historical high of ten thousand dollars , Bitcoin prices remain “ Waist cut ”.

For the recent decline of the currency market , Su Xiaorui, senior analyst of Analysys financial industry, told 《 Chinese times 》 The reporter said , There are multiple factors in the continued downturn of cryptocurrency market , One side , The cryptocurrency market continues to face stringent regulatory environments in various countries ; On the other hand , The uncertainty of the global economy gives capital markets , In particular, the US stock market has brought great fluctuations , The performance of cryptocurrency market in the past , It shows a high correlation with the US stock market , It is often difficult to be alone after the collapse of US stocks , The lack of confidence of users to withdraw from the market .

Reporters noted that , In the past two years , go by the name of “ Digital gold ” Bitcoin has also become the investment target of some listed companies . Including Tesla 、MicroStrategy、Square、 Listed companies including metu have opened their arms to cryptocurrencies such as bitcoin . And this fall , And let them become “ leek ”.

A number of listed companies have lost money

According to the data of the master of okoyun chain , Up to now , share 42 Companies or institutions hold value 341.12 Billion dollars of bitcoin , Positions account for BTC Market value 5.91%.

It's called “ Bitcoin whale ” Of MicroStrategy It was once the world's largest listed company holding bitcoin , According to SEC documents ,MicroStrategy Purchased value in the first quarter of this year 2.15 Billion dollars of bitcoin , The average purchase price is 44645 dollar / gold .

And in the MicroStrategy The latest financial report shows that , Because... Is included 1.7 $billion in bitcoin impairment charges , Its net loss in the first quarter increased from... In the same period last year 1.1 $billion to 1.3 Billion dollars . According to media reports ,2021 year , Affected by the rising price of bitcoin ,MicroStrategy Once created 5.11 Hundreds of millions of dollars in revenue .

It is worth noting that , Unlike other companies ,MicroStrategy Use the debt market to fund the purchase of bitcoin . The reporter learned that , before MicroStrategy Has raised billions of dollars in debt , But its basic software business does not have enough profits to repay these debts , So the success of the company's highly leveraged bet on cryptocurrency depends entirely on the price of bitcoin .

MicroStrategy Chief financial officer Phong Le In the financial report conference call , If bitcoin breaks through 21000 dollar ,MicroStrategy Will receive a margin call for the loan . This will force the company to either provide more collateral for the loan , Or sell some of its bitcoin .

except MicroStrategy Outside , Tesla is also bitcoin “ Large household ”. According to Tesla submitted to SEC Of 10-K file , By 2021 year 12 month 31 Japan , The fair market value of such digital assets held by the company is 19.9 Billion dollars ,2021 Due to changes in the book value of the company's bitcoin , Made an appointment with 1.01 Billion dollars in impairment losses .

2021 year , Zhonggai Meitu Investment Co., Ltd 1 $billion to buy cryptocurrency . According to its announcement , Meitu is 2021 year 3 month 7 Japan 、3 month 17 Japan 、4 month 8 Total daily purchase 940.89 Unit bitcoin , cost 0.495 Billion dollars , The average piece is about 5.26 Thousands of dollars . Besides , stay 3 month 7 Day and 3 month 17 Japan , Start with Meitu 31000 Ethereum , Total consideration 0.505 Billion dollars , The average price 1629 dollar / gold .

Its annual report shows , By 2021 end of the year , Mido cryptocurrency floating surplus 3.97 One hundred million yuan . But at the current price of bitcoin , There have been floating losses , But Ethereum, which started in the same period, is still in a profitable State .《 Chinese times 》 The reporter sent a letter to Meitu company on the impact of this decline on the company's cryptocurrency investment , But as of publication , No response has been received .

Wang Juan, Secretary General of the Beijing Institute of digital economy 《 Chinese times 》 The reporter said , Because there is no limitation of traditional trading system , There is a panic effect in the digital money market , Therefore, the valuation and revenue of currency holding enterprises have been greatly affected . however , Many of these enterprises and investment companies have grown and benefited from the digital money market , Whether they are “ faith ” still “ Benefits ”, It's impossible to give up , But will choose to buy on bargain hunting , Waiting for profit , This undoubtedly accumulated strong future market risks , It also makes the regulation of this market the focus of global regulation .

Coinbase The net profit in the first quarter changed from profit to loss

“ The first share of cryptocurrency exchange ”Coinbase Also affected by the decline of the encryption market . The media reported that , because Gyen Currency plummeted ,Coinbase Our customers filed a class action lawsuit with the federal court of Northern California on the role of the platform in the promotion and trading of cryptocurrency stable currency .

5 month 10 Japan ,Coinbase released 2022 First quarter results . Results show that , Its revenue in the first quarter was 11.65 Billion dollars , Year on year decline in the first quarter of last year 27.05%; Net profit loss 4.3 Billion dollars , From profit to loss . After the earnings release ,5 month 11 Japan ,Coinbase Down and over 24%, since 3 Since late month , The company's share price has fallen 70% above .

Regarding this , Wang Juan said , With the increase of business varieties , The nature of decentralized exchanges has also been increasingly questioned , While the source of platform performance expands , The benefits of managers 、 High dividend growth , With the signing of President Biden's digital assets act ,SEC The requirements for risk disclosure are becoming more and more specific , What investors denounce “ Mouse Storehouse ” And other reputational issues , The platform's concerns about regulation , Not only reflected in the demand for new regulation , It also shows that some information disclosure is insufficient , Major shareholders seek short-term returns, etc , Confidence in enterprises and the market also affects the stock price performance of the market .

data display ,2022 First quarter ,Coinbase The volume of transactions has fallen 44%, Total trading revenue fell 56%; Monthly trading users also increased from... In the fourth quarter 1140 Thousands fell to 920 ten thousand , Reduce more than 200 ten thousand . The company expects monthly trading users and trading volume to continue to decline in the second quarter .Coinbase Chief financial officer Alesia Haas He said in the financial report meeting :“ NASDAQ fell , Bitcoin fell , This leads to less and less dollars invested in cryptocurrency ”.

The reporter learned that ,Coinbase Recently launched its own non-homogeneous token (NFT) Trading market , But at present, the business performance is mediocre . According to the Dune Analytics The provided public blockchain data display , stay Coinbase NFT The first day the platform opened to the public , The number of users is less than 150 name , The total volume of transactions is only about the value of 7.5 Thousands of dollars in ETH, And now the biggest NFT trading platform OpenSea Billions of dollars a month .

Regarding this , Su Xiaorui thinks , When the annual report was released last year , At that time, there was a right to Coinbase Expectations of declining performance , From the perspective of macro environment , The cryptocurrency market is gradually depressed , Users lost and transaction volume declined , And from Coinbase From their own business point of view , Its income is “ Big head ” Still depends on transaction costs , Even though Coinbase In other areas such as NFT Try to enrich the source of income , But so far, it has not played a pillar role .

Chen Jiaxiang, researcher of the International Monetary Institute of Renmin University of China 《 Chinese times 》 The reporter said ,Coinbase Although our business model is highly technical , But it's not complicated in terms of commerciality . Buffett and Munger had a classic discussion before , Crypto assets lack the management of traditional funds , Everything about it is based on the bullish expectation of currency circle trading products , If no liquidity continues to enter , It cannot convince investors to hold assets long enough . from Coinbase From the actual performance of , It also proves that the vast majority of investors are reluctant to hold encrypted assets for a long time .

Chen Jia further analyzed that , This time bitcoin fell below 3 Psychological support of $10000 , For many listed companies holding currency, it can be described as a heavy blow . In the early stage, Wall Street, including Goldman Sachs, launched bitcoin Linked Deposit and loan products , After a moment of prosperity, they encounter severe challenges .

“ As the stable currency continues to fall below various psychological support levels , Hedge funds, including Blackstone, have to refute rumors that they have never participated in the trading of stable currency . And because of US sanctions against Russia , The US financial regulatory authorities have further increased their restrictions on Goldman Sachs and other Wall Street companies participating in currency circle trading activities related to Russia , These are a heavy blow to the encryption asset market .” Chen Jia said .

editor : Zhang Yanan

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