MicroStrategy Hit Lowest Since 2020 After Bitcoin Sale
- Shares have declined for a 10th consecutive trading session
- The stock had surged almost fourfold in the prior two years
Photographer: Angel Garcia/Bloomberg
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MicroStrategy Inc. shares touched the lowest level since August 2020 after the enterprise-software firm, better known in recent years as the largest corporate buyer of Bitcoin, disclosed its first ever sale of the token.
The stock fell 1.1% to $136.63 on Thursday, and is down 75% this year. Bitcoin rose less than 1% to around $16,590, thought it has slumped 64% since the start of the year.