Key facts
- MicroStrategy's stock (MSTR) fell below $100.
- Bitcoin's price dropped below $60,000.
- The stock reached a two-year low.
- Billions in unrealized gains on MicroStrategy's Bitcoin holdings were erased.
MicroStrategy's stock (MSTR) experienced a significant decline, falling more than 10% to a two-year low of approximately $92. This drop occurred as Bitcoin's price crashed below the $60,000 mark, leading to the erasure of billions in unrealized gains for the company's substantial Bitcoin holdings. Analyst Peter Schiff has warned that the ongoing sell-off could potentially compel MicroStrategy to sell its Bitcoin reserves.