The latest correction in the bitcoin price also hit investing companies!

The crash in the crypto market this week seems to have had an impact on the stock markets as well. Public companies that have invested in crypto assets suffered a serious loss in May.

Bitcoin and other leading cryptocurrencies have lost at least 50 percent this month. BTC, which was traded at about $ 60,000 on May 10, dropped to $ 30,000 last week.

Shares of MicroStrategy (MSTR), the public company with the highest amount of BTC in reserve, were trading at $ 657 at the end of April. The MSTR fell 31.5 percent in three weeks to $ 450 as of May 21. On the other hand, Bitcoin’s 50 percent appreciation since the weekend seems to have benefited MicroStrategy as well. The MSTR has gained 5 percent in the past 24 hours to $ 472.45.

According to Bitcointreasuries.org, MicroStrategy has purchased 92,000 BTC so far, and the value of this deposit has increased by nearly $ 1 billion despite the recent crypto crash.

Tesla (TSLA) shares also took a big hit this month, dropping 18 percent from $ 709 to $ 581 between the end of April and May 21. TSLA has gained 4.4 percent in the past 24 hours to $ 606.

Although Tesla announced on May 12 that it suspended BTC payments for vehicle purchases, it has yet to sell from 43,200 BTC in its reserve. Bitcointreasuries estimate that the value of the company’s BTC investments has increased by 10 percent.

However, not all companies that have invested in Bitcoin in recent months are profitable. Chinese smartphone maker and app developer Meitu invested $ 49.5 million in crypto money in March and April, when Bitcoin was traded at a record level. The value of the company’s BTC savings currently amounts to $ 35.9 million. Meitu shares also fell 19 percent since the end of April, from 0.31 to $ 0.26.

Japanese online gaming company Nexon also bought $ 100 million worth of Bitcoin on April 28. The value of the company’s investment is now $ 67 million. Nexon’s shares fell 29.5 percent today at the end of April and fell from $ 33.35 to $ 23.49.

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