MicroStrategy wipes $30B in biggest 4-day drop amid Bitcoin correction
MicroStrategy experienced its largest four-day drop in history, losing over $30 billion, or more than 35% of its market value, from its peak on November 21. This decline coincided with a Bitcoin correction following its record high of approximately $99,800 on November 22. While Bitcoin has seen a 146% increase over the past year, MicroStrategy's stock has surged over 599% due to heightened retail investment. Despite this, the recent 35% drop raises concerns about the volatility of MicroStrategy's stock as a leveraged Bitcoin investment. Retail investors significantly boosted MicroStrategy's stock purchases, with nearly $100 million bought in the preceding week alone. Both assets have posted solid gains in the long term, but short-term fluctuations illustrate risks associated with MicroStrategy as a Bitcoin proxy investment.
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