Buying Bitcoin Couldn’t Save MicroStrategy Shares From 50% Crash

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Bitcoin price has had one of its largest corrections since the bull market began, and has since struggled to reclaim $50,000. But the scenario is nowhere near as bad for the cryptocurrency as it is for one of its biggest supporters. Although the company’s share price had benefitted initially from buying BTC, it wasn’t enough to fend off profit-taking and an eventual now 58% correction in MicroStrategy. Here’s why this could be happening, and what it could also say about the current crypto market trend. MicroStrategy Shares Fall 50% After Buying More And More BTC One of the biggest catalysts kickstarting Bitcoin’s most recent bull run, was undeniably when MicroStrategy first revealed it had purchased a sum of BTC to add to its corporate treasure reserves. From then on, others have followed suit, and CEO Michael Saylor has doubled, and tripled down on his initial purchase. The price per BTC…

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