Summary
- It was reported that MicroStrategy's stock price fell by about 30% immediately after its inclusion in the Nasdaq 100.
- As the company holding the most Bitcoin, MicroStrategy's stock price has fallen about 45% from its peak.
- MicroStrategy is said to have a habit of announcing significant Bitcoin purchases before regulatory filings.
According to crypto-focused media outlet CoinDesk on the 30th (local time), the stock price of MicroStrategy, which holds the most Bitcoin (BTC) among single companies, has fallen nearly 30% from about $430 right after its inclusion in the Nasdaq 100.
This is a drop of about 45% compared to the late November peak ($543), and MSTR is currently trading at around $300.
The media explained, "There were signs everywhere that MicroStrategy was poised for a short-term rise," adding, "Examples include the stock price surge, founder Michael Saylor's corporate promotion, and companies buying tokens based on corporate financial strategies. For reasons unknown, cash-rich MicroStrategy has developed a habit of announcing significant Bitcoin purchases on Sundays before submitting filings to regulators on Monday mornings at the end of the year."
It continued, "But if something cannot last forever, it will eventually stop," and evaluated, "It seems that cracks have appeared in the MicroStrategy bubble since three weeks ago."
Meanwhile, BTC is trading at $91,961.18, down 1.81% from the previous day, based on the Binance Tether (USDT) market at 01:41 on the 31st.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
