Market Insight: Investor Weighs in on MicroStrategy’s Cryptocurrency Investment Strategy
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1 min read
Title: Top Angel Investor Takes Dig at MicroStrategy as Stock Plunges 8%
Top angel investor and crypto enthusiast Kevin O’Leary has taken a dig at MicroStrategy, the business intelligence firm that’s been investing heavily in Bitcoin. The statement comes as MSTR stock plummets 8% in the wake of a significant price drop for the asset.
MicroStrategy’s aggressive approach to purchasing Bitcoin has led many to question the sustainability of their strategy. O’Leary’s remarks suggest that he is among them, stating that MicroStrategy is “buying less and less BTC” despite the recent downturn.
While MSTR stock is still up by over 340% on a year-to-date basis, vastly outperforming Bitcoin, some have begun to express concerns about the long-term viability of their strategy.
Source: u.today
