What's Going On With MicroStrategy Stock As Bitcoin Falls?
Portfolio Pulse from Erica Kollmann
MicroStrategy (NASDAQ:MSTR) shares are trading lower as Bitcoin falls below $62,000. The company recently acquired 11,931 bitcoins for $786 million, bringing its total holdings to 226,331 bitcoins. Bitcoin's 5% drop has negatively impacted MicroStrategy's stock, which is down 9.85% to $1,337.56.
June 24, 2024 | 5:21 pm
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NEGATIVE IMPACT
MicroStrategy shares are trading lower due to a decline in Bitcoin prices. The company recently acquired 11,931 bitcoins, bringing its total to 226,331. The stock is down 9.85% to $1,337.56.
MicroStrategy's stock price is closely tied to Bitcoin's performance due to its significant holdings. The recent drop in Bitcoin has led to a corresponding decline in MSTR shares.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100