MicroStrategy's market cap recently plummeted by over 35% in just four days, wiping out more than $30 billion. This marks the steepest decline in the company's history, raising questions about its role as a leveraged Bitcoin investment vehicle. The drop coincided with Bitcoin's own correction after reaching a record high of nearly $99,800 on November 22. Despite this short-term setback, both Bitcoin and MicroStrategy have shown significant gains over the past month and year. Retail investor activity has surged, with nearly $100 million in MicroStrategy stock purchased recently, partly due to the firm's $2.6 billion note offering.