The declines in Bitcoin and altcoins have negatively impacted both individual and institutional investors.
As losses continue to mount, Bitcoin (BTC) and Ethereum (ETH) bulls have seen Solana DAT, following Strataegy and Bitmine, also face significant losses.
According to recent data, publicly traded companies holding Solana ($SOL) in their portfolios have faced unrealized losses exceeding $1.5 billion.
According to CoinGecko data, Solana’s four largest institutional holders—Forward Industries, Sharps Technology, DeFi Development, and Upexi—reported $1.4 billion in unrealized losses.
Although the losses haven’t materialized yet, stock markets have repriced the companies’ shares, and most are trading well below their market capitalization. Data indicates that these companies’ stock prices have fallen by 59% to 80% in the last six months.
Forward Industries, the largest holder of Solana, has accumulated over 6.9 million $SOL at an average cost of $230. Given that $SOL trades at around $84, the company has unrealized losses exceeding $1 billion.
Experts say that companies have also halted purchases in the face of these huge losses.
As is known, Strategy, the largest Bitcoin treasury company, has losses of around $5 billion, while Bitmine, the largest Ethereum treasury company, has losses reaching $8 billion. However, these losses and the ongoing decline are deterring Strategy and Bitmine from making purchases.
*This is not investment advice.