MicroStrategy# 8% After Year-End Bitcoin Purchase
MicroStrategy# shares fell on the last trading day after the latest Bitcoin purchase was revealed, with some market watchers raising concerns about leverage.
Michael Saylor’s MicroStrategy (MSTR) shares fell more than 8% after the latest $209 million Bitcoin purchase, with some watchers starting to share concerns about its “leveraged” play.
MicroStrategy made the purchase just an hour before the start of the trading day on the Nasdaq, which opened at 2:30 p.m. UTC. Within an hour, its shares were down 5.3% from $318.89 to $302.09.
Despite a partial recovery during the session, it ended the day at $302.96, according to Google Finance data, before falling another 3.19% in after-hours trading, sending the price down to $293.59
