Finst

MicroStrategy stock written down

MicroStrategy owns nearly 130,000 Bitcoin and may have made a miscalculation.

By Mike Hesp
• 4 min read
MicroStrategy stock written down

MicroStrategy owns nearly 130,000 Bitcoin and may have made a miscalculation. The company's stock has fallen.

Brent Thill, an analyst at Jefferies, has downgraded MicroStrategy's stock from "hold" to "underperform". The reason is the company's aggressive Bitcoin accumulation, coupled with the tough crypto market environment.

The company currently holds about 130,000 Bitcoin. That's more than any other company. The average purchase price is $24,214 per Bitcoin. At the current BTC price of $23,216, the investments are in the red. After Tuesday's devaluation, MicroStrategy's stock fell more than 10% to $237, but has since climbed back to $263.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.