Stocks of various companies invested in or tied to bitcoin are dipping to new lows. MicroStrategy – the software giant that initially began buying bitcoin in August of 2020 and has since become one of the cryptocurrency’s main institutional supporters – has seen its stock shares fall by as much as 26 percent in recent days. Hundreds of billions of dollars in market value have since vanished. MicroStrategy Has Taken Some Serious Hits The company has long been purchasing bitcoin as though it were the elixir of life. The world’s number one digital currency by market cap initially made waves
Jim Cramer, the outspoken host of CNBC’s Mad Money, has caused a stir in the financial sector by endorsing Bitcoin (BTC) over MicroStrategy stock (MSTR). This recommendation follows despite MSTR’s notable year-to-date performance of 85%, compared to Bitcoin’s 125% gain. Cramer’s endorsement, however, is met with a dose of skepticism.…
As Bitcoin (BTC) continues its unprecedented uptrend, surging to a new all-time high (ATH) of $72,300, software company MicroStrategy remains steadfast in its vision. It is reaping substantial rewards from its strategic investment in the largest cryptocurrency in the market. MicroStrategy, led by renowned Bitcoin supporter and former CEO Michael…