👉👉Bitcoin Fall Hit the Shares of Cryptocurrency Companies by 10 Percent! 👈👈
As the Bitcoin (BTC) price fell to its lowest level since February, stocks related to the cryptocurrency industry in the US also turned red.
Among the hardest hit were MicroStrategy (MSTR) and Bitcoin mining company Hut 8 (HUT), with declines of almost 10%. MicroStrategy owns more than 210,000 Bitcoins, while Hut 8 largely mines Bitcoin and is down 8.5% and 9.5% respectively.
Under the leadership of Michael Saylor, MicroStrategy adopted Bitcoin as a “reserve asset” and has been investing in Bitcoin since August 2020.
Other mining companies Marathon Digital (MARA), CleanSpark (CLSK) and Riot Blockchain (RIOT) fell between 6% and 7.5%. The leading cryptocurrency exchange Coinbase (COIN) lost 6.5% of its value.
At noon today, Bitcoin is trading around $55,200 and has lost 5% in the last 24 hours. It previously fell to $53,600, reaching its lowest level since late February.
This decline comes as a result of the collapsed crypto exchange Mt. It coincided with Gox's announcement to move $2.6 billion worth of BTC to a new wallet and start paying creditors after 10 years. Traders created a huge selling pressure, thinking that creditors might risk selling these coins immediately.
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