According to data provided by André Dragosch, Bitwise’s head of European research, stocks in the Bitcoin (BTC) finance company have collapsed by a whopping 75% since its peak in late June.
Analysts have not ruled out this could be the top, but they have not ruled out this could be a purchase opportunity.
Bitcoin Ministry of Finance stocks fall
Metaplanet (MTPLF) stock collapsed by a 62% record of 1,930 yen, a record high of 1,930 yen, achieved in June. Currently, it is the sixth largest Bitcoin finance company by total ownership.
The Bitcoin Treasury’s £900 gorilla strategy of investments has impacted a sharp 28% stock drop of $458 from the local July top to a modest 10%.
The same applies to smaller players such as Blockchain Group SA (ALCPB).
The main reasons behind the dramatic decline
The massive plunge in Bitcoin Finance Company’s stock is driven primarily by sustained concerns about inflated premiums to net asset value (NAV) as well as significantly reducing facility purchase activity.
It is still unclear whether Bitcoin finance companies will be able to revive Mojo.
