Oh dear! It seems our dear friend MicroStrategy ($MSTR) has taken a tumble, plummeting a whopping 11%! That’s right, folks, it’s now sitting at its lowest since the chilly days of November 20, and it’s down a staggering 55% from its peak of $473.83. Talk about a rollercoaster ride! 🎢
Traders are wringing their hands and biting their nails, wondering how this might tickle investor sentiments and trading strategies. Meanwhile, MicroStrategy is hoarding a treasure trove of 499,096 Bitcoins, all thanks to a jaw-dropping $43.7 billion investment at an average price of $66,350 each. Who knew digital coins could be so pricey? 💰
But wait! The Bitcoin price has dropped to $86,136, and now everyone’s scratching their heads, wondering how MicroStrategy will juggle its Bitcoin investments. According to the wise folks at the Kobeissi Letter, they need Bitcoin to stay below $66,000 to avoid selling off their precious assets. Yikes! 😱
Since August 2020, MicroStrategy has been on a Bitcoin shopping spree, refusing to sell a single coin even when the market was throwing a tantrum. With an $8.2 billion debt looming over its $43.4 billion Bitcoin stash, they’re feeling a bit cushy, as most of their convertible notes don’t come due until 2027. Talk about a long nap! 😴
Experts, those ever-optimistic creatures, predict that Bitcoin might just bounce back like a rubber ball! Institutions are still showing interest, and new all-time price records could be just around the corner. Unlike the gloomy crypto winters of yore, today’s market is buzzing with governments and institutions building Bitcoin reserve programs. Strong demand, anyone? 📈
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2025-02-26 12:41