MicroStrategy (MSTR) shares dropped nearly 13% following a 5% decline in Bitcoin's price, impacting the broader market. CEO Phong Le noted that the company's stock is designed to mirror Bitcoin's price fluctuations. Despite the downturn, MicroStrategy has continued its Bitcoin acquisition strategy, purchasing nearly $1 billion worth during the recent price weakness. The company maintains $1.44 billion in cash reserves, positioning it to withstand extended market downturns. The stock has been on a downward trend since mid-October, although a bullish RSI divergence is emerging.
MicroStrategy Stock Falls 13% as Bitcoin Declines
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