Evernorth’s XRP Stake Suffers $78 Million Unrealized Loss Amid Market Drop

Recent market conditions have led to significant unrealized losses for major crypto treasury firms:

Evernorth's [XRP](https://holder.io/coins/xrp/) stake has incurred $78 million in unrealized losses just weeks after entering the market.
Despite expectations, [Bitcoin](https://holder.io/coins/btc/) recently dipped below $100,000, trading at around $100,073.60, marking a 3.07% decline over 24 hours. This downturn has affected Bitcoin and altcoin treasury firms alike.
Evernorth Holdings Inc. plans to go public via a SPAC merger to create the world's largest institutional XRP treasury, expected to generate over $1 billion in gross proceeds. They secured 261 million XRP and accumulated $1 billion worth of XRP.
Strategy, holding the largest corporate Bitcoin reserve, experienced a 53% decline in MSTR shares despite owning 641,205 BTC.
Asian firm Metaplanet faces $120 million in unrealized losses with its share price down 80% from its ATH.
[Ethereum](https://holder.io/coins/eth/) Treasury firm BitMine has around $2.1 billion in unrealized losses but recently added more ETH to its holdings.