Strategy’s $13B bitcoin paper loss alone dwarfs hundreds of prominent tokens

Strategy (MSTR) is sitting on an unrealized bitcoin loss of more than $13 billion as BTC trades near $60,000, according to CoinDesk, after accumulating roughly 844,000 BTC at an average price near $75,600, per BitcoinTreasuries.net. The mark-to-market hit, which flows through earnings under fair-value accounting, exceeds the market cap of dogecoin (around $11.5–12.7 billion) and is below Hyperliquid’s HYPE token at about $18 billion, and is larger than the market caps of tokens including Monero, Cardano, Chainlink, Bitcoin Cash, Litecoin, BlackRock’s BUIDL, Uniswap, Near Protocol and Aster.