MicroStrategy shares have taken a significant hit, dropping over 30% since their inclusion in the Nasdaq-100 index. The stock, which peaked at $543 in late November, now trades just above $300, marking a 45% decline from its high. Despite this sharp fall, MicroStrategy’s stock has still soared by over 400% year-to-date and has increased 20-fold since the company began purchasing Bitcoin in August 2020. The company’s founder, Michael Saylor, has been a vocal advocate for Bitcoin, promoting the company’s “bitcoin yield” metric. This year, several other companies have followed suit, adopting Bitcoin as a treasury asset. However, the recent decline in MicroStrategy’s stock price, despite Bitcoin’s rise to over $108,000, suggests a potential negative divergence. Investors should consider these statistics when evaluating the impact of corporate Bitcoin strategies on stock performance.
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