MSTR: MicroStrategy Stock Falls Nearly 5% as Bitcoin Hits Landmark $100,000

Bitcoin-hoarding company is sitting on 402,100 Bitcoin and has pivoted from selling software to risking it all on the biggest corporate gamble in modern times.

• MicroStrategy stock MSTR fell 4.8% on Thursday, the day that made history with Bitcoin pumping to a record high above $100,000. Traders ditched crypto-linked stocks as they flocked to the OG digital asset and became part of history in the making. Coinbase COIN fell 3.1%. Both crypto-loving public companies opened for trading to the upside and proceeded to erase their advance later in the session.
• What’s so special about MicroStrategy? It’s a bright, shining, beaming example of what can happen when a company decides to bet it all — and then some — on Bitcoin. With its first bets on the crypto in 2020, MicroStrategy has now pulled into its treasury a total of 402,000 tokens worth roughly $40 billion. Half of that is profits as the company’s average purchase price is around $57,000 a piece.
• Against this backdrop, MicroStrategy’s stock has enjoyed breakneck growth, up nearly 500% this year alone to a market cap of $90 billion. Michael Saylor, founder of MicroStrategy, continues to push fiercely into the Bitcoin space, completely ignoring all other tokens in a true Bitcoin maxi fashion. And while Donald Trump is putting together his A-team of crypto specialists, is it a matter of time before he taps Saylor for a key crypto-focused government role?