MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading lower Friday as the price of Bitcoin falls. Here's a look at what to know.
What To Know:
MicroStrategy is the largest institutional holder with 226,331 Bitcoins, making the stock susceptible to fluctuations correlated to the price of the cryptocurrency. Bitcoin has fallen nearly 12% over the past five days as investors watch the movement of a large amount of Bitcoin by Mt. Gox from a cold wallet to a new wallet, possibly in preparation for payouts to its creditors.
At the time of publication, Bitcoin is down 3.51% over the past 24 hours at $55,430.82, according to data from Benzinga Pro.
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