Comment on MicroStrategy plummeted 45% as Bitcoin rallied, why?

MicroStrategy plummeted 45% as Bitcoin rallied, why?

MicroStrategy lost about 45% from its November peak, trading at about $300 after highs of $543 about six weeks ago. MicroStrategy is a publicly traded business intelligence company founded in 1989 that pivoted to acquire as much Bitcoin as possible in 2020. The company now holds well over 1% of all Bitcoin that will ever exist, and is now well underway to get its hands on 2%. With its strategy, MicroStrategy has enshrined its position as the largest corporate Bitcoin holder and attracted attention as a potential leveraged Bitcoin bet for institutional investors.

 

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