Software giant MicroStrategy\u2019s stock has dropped over 36% from its November peak despite its commitment to an aggressive Bitcoin accumulation strategy.<\/p>\n
Data from Google Finance shows<\/a> that MSTR shares closed at $302.96 on December 30 after fluctuating between $301.75 and $320.01 throughout the day.<\/p>\n The closing price was an 8.19% drop from previous levels, with another 3.19% scrapped off in after-hours trading, pushing the stock to as low as $293.59.<\/p>\n However, the biggest dip was observed when comparing MSTR\u2019s highest level of $473.83, achieved on November 20, to its current price, which shows a 36% difference. The all-time high came on the back of MicroStrategy achieving a record<\/a> $21.8 billion in 24-hour trading volume as it ramped up its BTC accumulation at a time when the asset was breaking price records of its own in quick succession.<\/p>\n The company is currently the biggest corporate holder of Bitcoin after securing<\/a> another 2,136 BTC, bringing its stash to an impressive 446,400 BTC, with an estimated value of $41.4 billion. Nonetheless, the continued buying spree seemed not to have pushed MSTR out of its lethargy, with the stock failing to go beyond $411 in December.<\/p>\n That being said, across longer periods, MicroStrategy has still performed admirably. Over six months, it is up more than 121% while also gaining 342% year-to-date.<\/p>\n Bitcoin itself has faced a turbulent few weeks, dropping as low as $91,330 shortly after reaching an all-time high of $108,135 on December 17. At the time of writing, the world\u2019s largest cryptocurrency by market cap was trading at $93,800, just 0.1% above its level from yesterday. Across 30 days, it has lost nearly 3% of its value, although over the last 12 months, the price reflects a 121% improvement.<\/p>\n Interestingly, there seems to be a correlation between MicroStrategy buying BTC and repeated market corrections. Each acquisition, usually announced on a Monday, has triggered a price pullback, raising questions<\/a> about the firm\u2019s impact on the crypto market.<\/p>\n Critics like gold advocate Peter Schiff claim<\/a> that the company\u2019s purchases are no longer substantial enough to drive the cryptocurrency\u2019s price higher. His comments coincided with BTC shedding 15% from its value, following hawkish signals from the Federal Reserve\u2019s last FOMC meeting.<\/p>\n However, led by Executive Chairman Michael Saylor, MicroStrategy seems undeterred. Its Bitcoin holdings, bought at an average cost of $62,428, now boast an unrealized profit of over $13 billion.<\/p>\n Additionally, a recent announcement about a special shareholders meeting<\/a> to propose increasing authorized shares and expanding financial options means the Virginia-based entity is preparing for future growth.<\/p>\n The post MicroStrategy Stock Down 36% From November High Despite Continued BTC Accumulation<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Software giant MicroStrategy\u2019s stock has dropped over 36% from its November peak despite its commitment to an aggressive Bitcoin accumulation strategy. Data from Google Finance shows that MSTR shares closed at $302.96 on December 30 after fluctuating between $301.75 and $320.01 throughout the day. Mounting Bitcoin Holdings Amid Stock Price Struggles The closing price was […]<\/p>\n","protected":false},"author":0,"featured_media":32295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-32294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32294"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32294"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32294\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/32295"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Mounting Bitcoin Holdings Amid Stock Price Struggles<\/h2>\n
Corporate Moves and Market Reactions<\/h2>\n