MSTR - What's Going On With MicroStrategy Stock As Bitcoin Falls? | Benzinga
MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading lower Monday after the price of Bitcoin (CRYPTO: BTC) fell below $62,000.
The Details:
Last week, MicroStrategy announced it had acquired approximately 11,931 bitcoins for roughly $786 million in cash between April 27 and June 19 at an average price of about $65,883 per bitcoin.
The company now holds 226,331 bitcoins, valued at more than $14.9 billion at the current market price. These were acquired at a total purchase price of around $8.33 billion, averaging approximately $36,798 per bitcoin, inclusive of fees and expenses.
Bitcoin is down by nearly 5% over the past 24 hours, and MicroStrategy shares are moving lower as bitcoin retreats.
According to data from Benzinga Pro, shares are trading about even with the stock’s 50-day ...