Deep Dive: Are Microstrategy Memes a Hidden Bottom Indicator For Crypto?
As Bitcoin has “failed to launch” throughout the past couple months, a more and more common discussion topic is Microstrategy, its dwindling stock price, and the threat of Michael Saylor’s liquidation of some or all of MSTR’s 671,268 Bitcoin ($58.4B), according to its corporate balance sheet.
As we can see, the company (and Saylor) began spiking with major levels of conversations across social media in mid-November.
Since its local top on July 16th, Microstrategy (MSTR) stock has plummeted from ~$456 to ~$158 per share.
This -65% drop has come with quite a bit of hostility, distraught, and of course memes.
Crypto traders’ concerns about MicroStrategy mostly center on how aggressively the company has borrowed money to buy Bitcoin. Over the…
