Strategy Stock Is Down 75%: Has Billionaire Michael Saylor's Bitcoin Treasury Experiment Failed?
The bears are taking a victory lap, but there's more to the story than the stock's dip.
Strategy Stock Is Down 75%: Has Billionaire Michael Saylor's Bitcoin Treasury Experiment Failed?
Overview
Bitcoin hit a fresh all-time high in October last year. Since that record, the world's top cryptocurrency has been in a bear market. It currently trades 51% off that peak (as of June 6), after a terrible start to the month.
Strategy (NASDAQ: MSTR), which is the world's largest Bitcoin holder with 843,706 units of the digital asset on its balance sheet (as of June 1), has also felt the pain. Its shares are down 75% from their all-time high.
Details
When Bitcoin is booming, Strategy is celebrating. However, the exact opposite is what's happening. Does this mean that billionaire Michael Saylor's Bitcoin treasury experiment been a failure?
Source
Originally published at www.fool.com.
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