MicroStrategy’s stock dropped by over 18% on Thursday, but recovered, as the price of Bitcoin surged to a new high above $98,000. Other Bitcoin-related stocks, such as Bitfarms and Canaan, were also affected, with Bitfarms falling by 6% and Canaan by 3%. MicroStrategy, which owns over 331,000 BTC, has seen its stock more than double in price since Donald Trump’s re-election two weeks ago.
Bitcoin’s price has surged over 38% since then, reaching a new all-time high of $98,310 per CoinGecko data. However, the coin dipped slightly, staying just shy of its latest milestone target, currently sitting at $97,091.
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<p>The post “MicroStrategy Stock Soars to New High, Followed by Volatility Amid Surging Bitcoin Prices” first appeared on CoinBuzzFeed.</p>
