Coinbase, MicroStrategy and Other Crypto Stocks Finally See Some Relief After Recent Losses
Shares of many crypto-related stocks had been battered during the week.
Shares of many crypto-related stocks had been battered during the week.
The plunging price of bitcoin raised questions about whether the company might soon receive a margin call from its lenders.
Double-digit percentage losses were the norm across the cryptocurrency sector as the Nasdaq tumbled another 4% and bitcoin plunged to just above $30,000.
The software firm owns 129,218 bitcoins valued at just under $5 billion.
CEO Michael Saylor’s tweet comes the same day Fidelity said it will begin offering bitcoin investments in its 401(k) accounts later this year.
The Luna Foundation Guard now holds about $1.7 billion in bitcoin, but crypto markets seem unimpressed with its purchases this year; bitcoin and ether are flat.
The CEO is almost two years into his multibillion-dollar experiment of bitcoin on the balance sheet. According to a new investor letter, his conviction isn’t waning.
The longtime bitcoin maximalist was as optimistic as ever about the cryptocurrency in a conversation with Ark’s Cathie Wood at Bitcoin 2022 in Miami.
The software company now holds 129,218 bitcoins.
The cryptocurrency slides again after eight straight days of gains.