MicroStrategy’s High-Stakes Bitcoin Bet Faces Market Pressure

The dramatic descent has been both swift and severe. MicroStrategy’s stock, the publicly traded vehicle for the software company’s ambitious crypto strategy, has plummeted 40% since the start of the year. On Friday, it touched a 52-week low of €171.80, a price that stands more than 60% below its peak from November 2024. This equity has effectively transformed into a direct proxy for Bitcoin’s notorious volatility. A stark divergence in sentiment is now evident: while founder Michael Saylor continues his unwavering commitment, purchasing hundreds of millions in additional Bitcoin, institutional capital is fleeing the cryptocurrency via exchange-traded funds. This raises a critical question for investors—whose conviction will ultimately prove correct?

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