MSTR stock falls after latest Strategy Bitcoin purchase
MSTR stock price dropped by over 7.3% on Tuesday after Strategy revealed its latest Bitcoin purchase.
Summary
- MSTR stock price crashed by over 7% on Tuesday.
- Strategy announced that it bought over 22,000 coins worth over $2.13 billion.
- Bitcoin price dropped below the important support level at $90,000.
Strategy shares tumbled to $161, a few points above the key support level at $149.75, its lowest level this year. It has now dropped by over 70% from its all-time high.
In a statement, Michael Saylor said that the company accumulated 22,305 Bitcoins (BTC) last week. It spent $2.13 billion to fund this purchase, raising the money by selling its common…
