MicroStrategy stock hits 1.5-year low amid crypto winter
Shares of the largest institutional investor in bitcoin fell to an 18-month low amid a decline in the value of BTC. Their price has decreased by 55% compared to the previous month.
The value of shares traded on the Nasdaq under the ticker MSTR fell to $188.50. Although on April 24 the price of the shares was $427.05. The last time the share price was this low was on November 9, 2020, when the price of Bitcoin was $16.4K. Information provided by TradingView.
Recall that MicroStrategy has 129,218 BTC in stock. Due to the depreciation of bitcoin, the company suffered big losses in 2021, and it looks like the situation will repeat itself in 2022.
At the time of writing, the first cryptocurrency is trading at $29.43K. The price has recovered slightly after falling below $26.75K on May 12 amid one of the largest crashes in the crypto market. We are talking about a 99% drop in the price of TerraUSD (UST). This situation has had a negative impact on the entire crypto market.
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