Bitcoin has to fall this low for Michael Saylor’s Strategy to lose money
Strategy (NASDAQ: MSTR) – formerly known as MicroStrategy – has been suffering from a period of stock market decline in recent trading. Specifically, MSTR shares experienced a 5.57% drop on Friday, March 7, to their latest closing price of $287.18, and an equally sharp collapse of 5.46% in the extended session, leading to the Monday pre-market value of $271.50. MSTR stock 1-day and Monday pre-market price chart. Source: Google With Michael Saylor’s company facilitating investor exposure to Bitcoin (BTC) via vicarious ownership, it should come as no surprise that BTC’s own decline from $86,773 on Friday to $83,126 at press time has been one of the main reasons behind the stock price drop. Picks for you Bitcoin just made the biggest weekly price drop in history 53 seconds ago ...