Bitcoin's big business backers face the music
It’s time for Bitcoin’s corporate champions to account for a brutal selloff in the cryptocurrency.
Companies such as Tesla Inc. and MicroStrategy Inc. that have emerged as some of Bitcoin’s biggest backers will have to reckon with their digital holdings in earnings reports next week after the price of the token tumbled 41% in the second quarter. Square Inc., one of the few other large companies to add the cryptocurrency to its balance sheet, will report results in August.
It’s time for Bitcoin’s corporate champions to account for a brutal selloff in the cryptocurrency.
Companies such as Tesla Inc. and MicroStrategy Inc. that have emerged as some of Bitcoin’s biggest backers will have to reckon with their digital holdings in earnings reports next week after the price of the token tumbled 41% in the second quarter. Square Inc., one of the few other large companies to add the cryptocurrency to its balance sheet, will report results in August.
