TipRanks
2022-06-13 14:59:02

Bitcoin Proves Hazardous for MicroStrategy; Now What?

MicroStrategy (MSTR) made a name for itself in business intelligence. Perhaps more than that, however, it's also widely known for the massive bet it placed on the mother of all cryptocurrencies: bitcoin (BTC-USD). A recent plunge in bitcoin's value took MicroStrategy down with it, as the company lost over 29% in premarket trading on Monday. Those losses continued into Monday's trading session. However, is MicroStrategy still worth investing in? At this point, honestly, I'm not so sure. I'm neutral on MicroStrategy right now; a couple of moves in either direction will either send the company down in flames or give it a whole new life.

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