Strategy's unrealized BTC loss exceeds market cap of DOGE

Strategy's unrealized loss on its Bitcoin holdings has surpassed the market capitalization of Dogecoin, CoinDesk reported. The company's paper loss stands at approximately $13 billion, while Dogecoin's market cap is around $11.5 billion. The loss is also greater than the market caps of other major cryptocurrencies, including ADA, XMR, LINK, BCH, LTC, UNI, and NEAR. Experts have pointed out that this distorted structure runs counter to the fundamental principles of the crypto ecosystem. The criticism is that a single publicly traded company has monopolized a significant portion of the market supply, transplanting the "too big to fail" risk from traditional financial markets into the crypto space. Strategy currently holds approximately 844,000 BTC, with an average purchase price of around $75,600.