Reported about 22 hours ago
MicroStrategy Inc. saw its shares drop over 8.5% following its debut in the Nasdaq 100, marking a challenging period for the company amid criticism of its Bitcoin investment strategy. Despite purchasing an additional 5,262 Bitcoins for $561 million, analysts expressed concern over the timing and size of this acquisition. With nearly $41 billion in Bitcoin on its balance sheet, MicroStrategy's deep reliance on the volatile cryptocurrency raises questions about its overall business sustainability, especially as its stock has lost nearly 40% of its value recently.
Source: YAHOO