{"id":281022,"date":"2021-06-22T21:19:15","date_gmt":"2021-06-22T18:19:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/microstrategy-stock-tanks-with-bitcoin-as-sp-500-nasdaq-rally\/"},"modified":"2021-06-22T21:19:15","modified_gmt":"2021-06-22T18:19:15","slug":"microstrategy-stock-tanks-with-bitcoin-as-sp-500-nasdaq-rally","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/microstrategy-stock-tanks-with-bitcoin-as-sp-500-nasdaq-rally\/","title":{"rendered":"# MicroStrategy stock tanks with Bitcoin as S&#038;P 500, Nasdaq rally"},"content":{"rendered":"<p>&#8220;<strong># MicroStrategy stock tanks with Bitcoin as S&amp;P 500, Nasdaq rally  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Shares of MicroStrategy (MSTR) plunged anew on Tuesday, extending an early week slump on the back of a highly volatile cryptocurrency market that saw Bitcoin (BTC) briefly pierce below $30,000.<\/p>\n<p>MSTR touched an intraday low of $513.02 through the early morning session, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/chart\/?symbol=NASDAQ%3AMSTR\">capping<\/a> off a 12% decline. Shares of the business intelligence firm collapsed 16.7% on Monday, erasing much of last week\u2019s rally. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/83f7929a-026c-4a92-8ae3-906391d5e5d3.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>MSTR shares recovered back above $550 on Tuesday but are still down sharply over the past two trading sessions. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>By comparison, the broad S&amp;P 500 Index of large-cap stocks rose 1.4% on Monday and the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>-heavy Nasdaq Composite Index climbed 0.8%. Both indices were on track to close higher on Tuesday. <\/p>\n<p>MSTR has played out like a crypto proxy stock ever since CEO Michael Saylor first announced his company\u2019s exposure to Bitcoin. Saylor\u2019s Bitcoin gambit shined a positive spotlight on the crypto industry and contributed to the market\u2019s eye-watering rally between October 2020 and May 2021. As a result, MicroStrategy\u2019s share price peaked at $1,315.00 in February before correcting sharply lower over the next three months. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bullish all the way? MicroStrategy doubles down on its Bitcoin bet<\/em><\/strong><\/p>\n<p>Saylor and entities under his direct control now <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/news.yahoo.com\/entities-control-possess-111-000-193000473.html\">manage<\/a> roughly 111,000 BTC. Saylor\u2019s new Bitcoin holding company, MacroStrategy LLC, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcointreasuries.net\/\">holds<\/a> 105,084 BTC for a total value of roughly $3.4 billion.\u00a0<\/p>\n<p>The cryptocurrency market was nursing heavy losses on Tuesday. With a total market capitalization of $1.3 trillion, cryptos are down more than half from their peak last month. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/microstrategy-stock-tanks-with-bitcoin-as-s-p-500-nasdaq-rally\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# MicroStrategy stock tanks with Bitcoin as S&amp;P 500, Nasdaq rally &#8221; Shares of MicroStrategy (MSTR) plunged anew on Tuesday, extending an early week slump on the back of a highly volatile cryptocurrency market that saw Bitcoin (BTC) briefly pierce below $30,000. MSTR touched an intraday low of $513.02 through the early morning session, capping&#8230;<\/p>\n","protected":false},"author":1,"featured_media":281023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMDcwMjdiYTItM2I2NS00YWNiLWI3NjItMDFkYWFiNmVhMGQ4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74937,74863,117,70359],"class_list":["post-281022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-price","tag-cryptocurrencies","tag-business","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/281022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=281022"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/281022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/281023"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=281022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=281022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=281022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}