Why Shares of MicroStrategy Plummeted Today

·2 min read
Why Shares of MicroStrategy Plummeted Today

MicroStrategy's (NASDAQ: MSTR) stock took a hit today after the company announced that it has purchased an additional 13,005 Bitcoin tokens. The announcement came at the same time that China's central bank said that it would start cracking down on cryptocurrencies. MicroStrategy's share price was down by as much as 10.7% and had fallen by 9.7% as of 2:33 p.m. EDT.

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