Bitcoin slump puts the "cry" in crypto for Tesla, Coinbase, other holders

Sos

19/05/2021 17:50

(Updates)
    ** Shares of Tesla, Square, Coinbase and other companies
with bitcoin on their balance sheets, as wells as
blockchain-related firms down following a plunge in prices of
the cryptocurrency    
    ** Bitcoin  BTC=BTSP  drops to $30,066- its the lowest level
since late Jan, as China bans financial and payment institutions
from providing cryptocurrency services; BTC last down 14% at
$36,919  urn:newsml:reuters.com:*:nL2N2N60Q4 urn:newsml:reuters.com:*:nL2N2N61KU 
    ** Tesla  TSLA.O  down as much as ~5.4%, touching an over
four-month low; CEO Elon Musk, who has previously said TSLA had
not sold any bitcoin, tweets https://twitter.com/elonmusk/status/1395027147161489412
 a 'diamond hands' emoji- - a term used on online to describe
fearless holders of cryptocurrencies or meme stocks  
    ** Crypto-exchange operator Coinbase  COIN.O  down as much
as 13% hitting a record low as co also raises capital
 urn:newsml:reuters.com:*:nL2N2N615H; while Jack Dorsey-led payment firm Square down ~3%
    ** Bitcoin bank Silvergate Capital  SI.N  down 4.7%;
cryptocurrency miners Riot Blockchain  RIOT.O  and Marathon
Digital Holdings  MARA.O  7.9% and 10.1% lower, respectively    
     
    ** China-based Future Fintech Group  FTFT.O  slips 3.9%  
    ** Shares of Overstock.com  OSTK.O , a blockchain tech
investor, down 5.2%; Shares of BTC buyer MicroStrategy Inc
 MSTR.O  9.8% lower

 Company            Bitcoin Holdings      As of
 Tesla Inc          $2.48 bln             March 31
 Coinbase Global    $254.7 mln            March 31
 Square Inc         $472 mln              March 31
 MicroStrategy      $1.95 bln*            March 31
 *carrying value                          
 

 (Reporting by Aaron Saldanha, Lisa Mattackal and Uday Sampath)
 ((Aaron.Saldanha@thomsonreuters.com; +91 9810644993; Reuters
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net))