Bitcoin buyers plunge as crypto euphoria fades
STORY: From crypto mania losing shine to a Trump investor feeling the cold… This is Crypto Weekly
:: Crypto Weekly
:: Investors retreat
Companies that accumulate and hoard bitcoin and other cryptocurrencies have suffered sharp drops in their share prices as the crypto mania that has gripped investors for much of the year recedes.
These so-called digital asset treasury companies sell shares or issue debt to raise cash for buying crypto held on their balance sheets.
Investors have been snapping up their shares, encouraged by bitcoin’s record highs this year .
Michael Saylor’s Strategy is the best known of these bitcoin buyers.
Its shares have fallen from $457 in July to as low as $328 this week.
:: Figure’s IPO
