The sharp downturn in cryptocurrency markets has left some of the largest corporate holders of digital assets facing substantial unrealized losses as bitcoin fell to $59,000, its lowest level in 19 months.

The decline wiped more than $20,000 from bitcoin’s value in roughly three weeks and added pressure across the broader crypto market, News.Az reports, citing CryptoPotato.

Among the companies most affected is Strategy, the largest corporate holder of bitcoin, which holds 843,706 BTC acquired at an average price of $75,600. The company’s holdings, purchased for about $63.8 billion, are now valued at approximately $51.6 billion, leaving it with an unrealized loss of more than $12…