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Why MicroStrategy Stock Sank Today

TheMotleyFool

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Shares of MicroStrategy (NASDAQ: MSTR) declined by 10% Thursday, as the price of Bitcoin (CRYPTO: BTC) fell.

MicroStrategy's stock has become something of a proxy for the price of Bitcoin. The enterprise software company made the cryptocurrency its "primary treasury reserve asset" back in August.

Since that time, MicroStrategy has purchased 91,850 Bitcoins at an average price of roughly $24,403. That $2.2 billion investment has grown to more than $4.5 billion today.

Source Fool.com

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