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Institutional investors lose $13 billion dollars

Bitcoin World’s largest crypto currency just seen the biggest drop after a historic raise

Bitcoin was heavily brought by both retail and institutional investors

Companies holding significant amount of bitcoin lost billions in matter of hours

Institutional investors have heavily invested in bitcoin and after a flash crash they lose over $13 billion

However bitcoin again bounced up from the short crash and recovered some of its price

Bitcoin earlier dropped from $58,000 per coin to $48,000 in matter of just 24 hours

This was the largest single day crash in value for the currency

According to Bitcoin Treasuries website bitcoin was held by 41 companies and institutional investors

The total bitcoin held by those companies were worth over 76 billions dollars untill yesterday however it’s worth around 64 billion dollars right now

Over $13 billion dollars worth of bitcoin was lost in matter of hours

However bitcoin did bounce back little after the crash recovering from $48,000 to $53,000 per coin

Making the total investment value in bitcoin by institutional investors to $71 billion again from $63 billion

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