Shares of MicroStrategy Inc. fell sharply on Monday, dropping over 11%, as Bitcoin dipped below $82,500. The decline followed the company’s announcement of plans to raise up to $21 billion to further increase its Bitcoin reserves.
MicroStrategy, which already holds nearly 500,000 BTC valued at approximately $40 billion, intends to issue a new class of shares called “perpetual strike preferred stock” to fund the expansion. This move comes despite the company reporting a $3 billion loss on its Bitcoin investments since November.
By 11:10 am ET, MicroStrategy’s stock price had plummeted 11.74% to $253.12, reflecting investor unease over the risks tied to its aggressive Bitcoin strategy. The market reaction underscores growing concerns about the volatility and financial impact of large-scale cryptocurrency investments.
Stay tuned to Danchima Media for more updates on this developing story.
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