Bitcoin Crash: Why MicroStrategy Inc. Stock Is Falling
Portfolio Pulse from Erica Kollmann
MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading lower in sympathy with the price of Bitcoin (CRYPTO: BTC) which fell to a two-month low. MicroStrategy, the largest institutional holder of Bitcoin, saw its shares fall by 4.5% after Bitcoin's price fell more than 7%. The company owns 152,800 BTC, representing a $4.53 billion investment. MSTR shares are down by more than 5% on above-average trading volume.
August 18, 2023 | 2:56 pm
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MicroStrategy's stock price is falling due to the recent drop in Bitcoin's price. The company, being the largest institutional holder of Bitcoin, is heavily impacted by Bitcoin's price movements.
MicroStrategy's stock price is directly linked to the price of Bitcoin due to the company's significant holdings in the cryptocurrency. As Bitcoin's price fell, it led to a decrease in the value of MicroStrategy's assets, which in turn led to a decrease in the company's stock price.
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