MicroStrategy Stock Tanks 90%, CEO Sees Bitcoin as ‘cyber Manhattan’
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- MicroStrategy stock plunges 90%, reflecting market volatility.
- CEO Michael Saylor remains bullish on Bitcoin’s long-term potential.
- Saylor compares Bitcoin to “cyber Manhattan,” for its value as a strategic investment.
90.34% to $124.69. This drop has erased roughly $1.165 billion in market capitalization. Despite this, pre-market trading shows a slight rebound, with the stock price edging up to $130.93.
Earlier in the year, MicroStrategy shares traded considerably higher, reaching a closing price of $1,369.21. The stock’s volatility is evident in its wide trading range for the day, fluctuating between $1,240.13 and $1,421.58.
Source: NASDAQ: MSTR
The stock listed on NASDAQ with a market cap of $2.38 billion had gone through a low of $307.11 and a high of $1,999.00, further highlighting its volatile nature. MicroStrategy typically sees an average trading volume of 1.35 million shares.
In a recent interview, Michael Saylor addressed MicroStrategy’s ongoing Bitcoin acquisition strategy. Despite Bitcoin’s dip below $50,000, he noted that the company consistently acquires the apex crypto quarter after quarter. Saylor emphasized that Bitcoin’s vol…
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