MicroStrategy Skips Bitcoin Buy, Shares Drop
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
MicroStrategy, a major Bitcoin holder, skipped its weekly buy for the first time in thirteen weeks, with no explanation from CEO Michael Saylor. The company still holds over $51 billion worth of Bitcoin, but its stock price has dropped by more than 60% in the last six months. Bitcoins price has also fallen by 18% over the past year, making it challenging for big holders. Meanwhile, other companies like Canaan are increasing their Bitcoin and Ether holdings and expanding mining operations. As mining outfits explore new revenue streams, it remains to be seen if MicroStrategy will follow suit or resume buying when prices stabilize.
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