TipRanks
2022-08-19 17:19:16

The Biggest Reason Why Microstrategy is Down Today

There are two sides to Microstrategy (MSTR). The first is the business intelligence tools side, which is actually a lot less popular than the second side - a massive bitcoin (BTC-USD) investor. Microstrategy lost ground because its large bitcoin holdings—around 129,699 as of its last report—lost ground overnight. Bitcoin briefly dropped below $22,000, the latest in a series of drops for the cryptocurrency. The last 12 months for Microstrategy shares started out sound, but that eventually shifted. This time last year, the company was challenging $720 per share. In early November, it cleared $860 per share. That, however, was where Microstrategy's party ended.

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.