MicroStrategy’s stock has fallen 35% from its peak of $535, losing around $30 billion in market capitalization in just four trading days. This is one of the firm’s largest four-day drops in history. The decline coincides with Bitcoin’s 9% drop from its all-time high. MicroStrategy stock has fallen over four times more than Bitcoin over the past week, as retail investors bought shares in anticipation of the peak.
The correlation between MicroStrategy and Bitcoin has widened, and the stock is now trading with significantly more volatility. Despite the drop, CEO Michael Saylor remains optimistic about the firm’s ability to continue buying Bitcoin with debt.
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