The company still holds a total of 129,218 bitcoins, acquired for $3.97 billion, reflecting an average cost per bitcoin of approximately $30,700, according to company reports. This is up 16% from $146.6 million recorded in the previous quarter (Q4, 2021). During the month of May, we saw the altcoin market capitalization trade as low as $621 billion.Īfter that, MicroStrategy, one of the largest institutional holders of Bitcoin on its balance sheet, took a non-cash digital asset impairment charge of $170.1 million in the first quarter of 2022. The altcoin market experienced similar declines, losing 28.92% in May, from approximately $988 billion to currently stand at $702 billion at the end of the month. The cryptocurrency market capitalization traded as low as $1.15 trillion in the month of May, with many fearing the market could be losing its trillion-dollar status. The cryptocurrency market capitalization, as you would expect, declined by 24.34% for the month, from $1.73 trillion at the start of the month, to end the month at $1.31 trillion. Bitcoin’s market dominance ended the month at 46.24%, up by 3.98% from the 42.26% seen at the beginning of the month. Bitcoin traded at a peak of $39,902.95 at the beginning of the month, however, in the last two weeks of the month, we witnessed a significant decline in the market that sent Bitcoin to trade below the $30,000 zone. It began trading from $37,714.88 at the beginning of the month and ultimately ended the month at $31,792.31, representing a 15.70% loss. The month ended up being a bearish month for the cryptocurrency space as the flagship cryptocurrency asset, Bitcoin traded as low as $26,350.49 on the 12th day of the month, marking a new yearly low for the asset.

The cryptocurrency space in the month of May 2022, will definitely be remembered by the cryptocurrency community as the market was plagued with a rollercoaster of negative headlines that cast a dark shadow over the future of the market and investor confidence.

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