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Bitcoin Price Decline and Market Risks
However, since bitcoin’s prices are volatile, MicroStrategy’s market risks now relate to its bitcoin holdings. Bitcoin dropped below the $100,000 mark, trading at $93,313.96, a decline from the previous week’s $108,000. This decline came after the Federal Reserve made pointy statements that it would be careful in the next cuts of interest rates.
MicroStrategy’s share price has tracked Bitcoin’s recent dip, which is currently down 17% in the last week to $342. Some have criticized its leveraged Bitcoin acquisition strategy based on the high price-to-Bitcoin multiple that its shares fetch. Although this approach has a high potential return at the peak of the Bitcoin price, it is highly risky at the low point.
Bitcoin
Bitcoin Holdings
Crypto market
Source: cryptonewsland.com
