bullish

Bitcoin

Coin

<ul class="news-points wp-block-list" wp-block-list>
 <li>MicroStrategy stock plunges 90%, reflecting market volatility.&nbsp;</li>
 <li>CEO Michael Saylor remains bullish on Bitcoin’s long-term potential.</li>
 <li>Saylor compares Bitcoin to “cyber Manhattan,” for its value as a strategic investment.</li>
</ul>
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.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXck5NlxvfYw6C6nYrCwGlI3YVGwuNOjB_YqgFjFWbytRNcnjAuEX7LXMVqNqg6clwuszN7sCaCavGRqPZiihjQlk8KEpRLXHZ6lflPunPqiLNKOrNLyxIJeMqVOwENrK1ldHZ_2umw0e1vGOpErjyDtxQjm?key=3KcdooHMqagRFacZ1GlyDw" alt="">
</figure>
Source: <a href="https://www.google.com/finance/quote/MSTR:NASDAQ?window=1M" target="_blank" rel="noopener noreferrer nofollow">NASDAQ: MSTR</a>
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 <a href="https://youtu.be/SKg54N2Gyk0?si=RbZzgtLPUtdYFTJ8" target="_blank" rel="noopener noreferrer nofollow">interview</a>, Michael Saylor addressed MicroStrategy’s ongoing Bitcoin acquisition strategy. Despite <a href="https://coinedition.com/bitcoins-fateful-moment-50000-decides-the-next-market-move/" rel="noopener noreferrer nofollow">Bitcoin’s dip below $50,000</a>, he noted that the company consistently acquires the apex crypto quarter after quarter. Saylor emphasized that Bitcoin’s vol…
The post <a href="https://coinedition.com/microstrategy-stock-tanks-90-ceo-sees-bitcoin-as-cyber-manhattan/" rel="noopener noreferrer nofollow">MicroStrategy Stock Tanks 90%, CEO Sees Bitcoin as ‘cyber Manhattan’</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

MicroStrategy Stock Tanks 90%, CEO Sees Bitcoin as ‘cyber Manhattan’

Coin Edition

Other articles published on Aug 8, 2024

3 Reasons Why Ethereum Is Struggling Today: Will ETH Break $2,000?

NYSE seeks approval for trading options on Grayscale and Bitwise Ethereum ETFs

Kamala Harris Launches ‘Crypto for Harris’ to Win Over Crypto Owners

XRP ETF Speculation Ramps Up After SEC Lawsuit Is Settled

RBI’s Digital Rupee Gains Momentum with Google and Amazon Planned Joint Effort

Toncoin (TON) Price Surges 9% After Major Binance Update

Join our free newsletter for daily crypto updates!