Post
Topic
Board Economics
Merits 5 from 3 users
Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
by
The Pharmacist
on 13/06/2022, 14:40:40 UTC
⭐ Merited by fillippone (3) ,suchmoon (1) ,fr4nkthetank (1)
I'm surprised no one has bumped this thread today, or maybe it's just too early in the day.

Their stock price dropped about 23.5% since the market opened an hour ago, and I'm wondering what MSTR's shareholders are thinking as regards the company's massive bitcoin investment--or at least those shareholders who bought MSTR for reasons other than it being a bitcoin investment proxy.

True, the rest of the market is sinking today, but nowhere near as much as Microstrategy.  I get that bitcoin's price has dropped roughly 17% over the course of a day, and that that reflects on MSTR's valuation, but damn....that's gotta hurt if you own the stock.