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MicroStrategy Inc. (NASDAQ:MSTR) saw a sharp decline of over 8.5% on Monday following its inclusion in the Nasdaq 100 index, raising concerns about its Bitcoin investment strategy.
As a major holder of Bitcoin (CRYPTO: BTC), MicroStrategy has faced challenges recently, with significant losses in five out of the last six trading sessions and a drop of more than 37% from its peak value last month.
The company’s decision to sell $561 million in common stock to acquire an additional 5,262 Bitcoins at an average price of $106,662 per coin has sparked debate among investors and analysts.
This move to increase its Bitcoin holdings to a total of 444,262 BTC has raised questions about the timing and scale of MicroStrategy’s investment strategy.
Find out more about this developing story by visiting finance.yahoo.com.