Why MicroStrategy Stock Was Sliding Today

·2 min read
Why MicroStrategy Stock Was Sliding Today

Shares of MicroStrategy (NASDAQ: MSTR) were falling today in tandem with a broader slide in cryptocurrencies, in particular Bitcoin (CRYPTO: BTC). MicroStrategy is a software company, but the stock's fortunes have become tied to Bitcoin as CEO Michael Saylor has essentially bet the company's future on the cryptocurrency. Under Saylor's leadership, MicroStrategy has been steadily buying Bitcoin, and Saylor has been so confident in the Bitcoin strategy that the company has been taking on 0% convertible debt to acquire Bitcoin.

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