MicroStrategy MSTR, -6.61% shares slumped 21% in premarket trade. Heading into Monday, the stock has dropped 76% from its November peak.
CEO Michael Saylor, a crypto enthusiast, has led MicroStrategy to aggressively accumulate the cryptocurrency. These bitcoin purchases have made not just with profits from its analytics software business, but also by borrowing via convertible bond issuance, and also by borrowing against its bitcoin holdings, in a loan with Silvergate SI, -2.22%. According to a story from NewsBTC last week, loans accounted for $2.4 billion of its $4 billion in bitcoin purchases.
- With Heroes Like This, Who Needs Putin?
- “Blaming the Victim” has Never Known Such a Vivid Example
- Arizona’s next Gov DESTROYS CNN – Kari Lake
- THERE’S A FINANCIAL HURRICANE COMING RIGHT FOR US BRACE YOURSELVES
- Summer Preview: Rolling Blackouts, Higher Gas Prices, Natural Gas Rationing In Europe And A Historic Diesel Crisis
- A Warning About The Coming Shortages Of Diesel Fuel, Diesel Exhaust Fluid And Diesel Engine Oil
- Armstrong: Prepare for WWIII: The West NEEDS war because the entire financial system is collapsing
- The Supreme Court Just Did Something That Has Many Speculating That The Decision To Overturn Roe v. Wade Will Be Released On Friday
- This is an inflationary recession, the worst in 100 years.
- Alleged President Biden Announces New Pandemic Right before Midterms