Six weeks ago, MicroStrategy saw its share price spike to an all-time high above $500 amid a historic Bitcoin bull run. But MSTR is limping into the new year, now down 45% from that peak. Bitcoin, meanwhile, is down only 10% from its own recent peak.
What happened? Amid that surge, MicroStrategy’s market cap eclipsed the value of its vast Bitcoin holdings—now tallying over $43 billion worth—and investors may be reconsidering whether it’s worth paying that premium for MSTR as a BTC proxy. And while the firm has continued buying up Bitcoin, the weekly additions have gotten smaller and smaller of late.
“The stock’s underperformance, despite substantial Bitcoin acquisitions, indicates that investors are no longer willing to pay an implied price of $200,000 (or more) per Bitcoin through MicroStrategy when it can be purchased directly at a much lower cost,” wrote 10X Research in a note to investors Thursday.
Why MicroStrategy Shares Have Tanked 45% Despite Billions in Bitcoin Buys
MicroStrategy's share price has faced a prolonged plunge, falling 45% from its November peak as the firm's Bitcoin buys get smaller.
Do Kwon Pleads Not Guilty to US Charges Over Terra LUNA, UST Crash
Freshly extradited from Montenegro, Terraform Labs co-founder Do Kwon pleaded not guilty to U.S. criminal charges over Terra's collapse.
Solana and XRP Surge as Dogecoin and Bitcoin Hit Weekly Highs
Bitcoin is rising in the new year, propelling Solana and XRP to major gains as Dogecoin climbs—and Fartcoin blasts off again.
Dogecoin Hero Elon Musk Just Crashed Another Meme Coin—Here's How
Elon Musk caused a Pepe inspired meme coin to sky rocket but he also made it plummet. All in a day’s work.
Why Gnosis Pay Isn’t Just Another Crypto Card
The self-custodial crypto debit card is a step towards ‘banking 3.0,’ combining legacy payments infrastructure with Web3 innovation.
Walrus revolutionizes decentralized data storage with a secure, scalable, & cost-efficient solution for Web3 applications on any chain. Builders and users benefit from high-speed, reliable data access, with Decrypt and One Championship already joining the herd. Join the Quest and get to know Walrus!
🎮 GG: GameStop Bull Roaring Kitty Pumps Another Gaming Stock With Dave Chappelle Post
A “Chappelle's Show” GIF posted by Keith Gill—aka Roaring Kitty—sent a gaming stock surging Thursday. And it's not GameStop.
🤖 EMERGE: Crypto's Latest Meta? AI Agent Tokens Like AI16z and Virtuals Skyrocket
New year, new narrative? AI-related coins are on fire right now, led by Virtuals and AI16z along with linked meme coins like Fartcoin.
🎭️ SCENE: Decrypt’s 2024 NFT Project of the Year: CryptoPunks
While other NFTs worked every angle this year to justify their value, the effortless relevance of CryptoPunks continues to stand out.
📚 Watch and Learn
📹 WATCH: How Decrypt is 'Rethinking the Business Model of Media' With Web3 and Decentralized Storage – Decrypt
Ilan Hazan, Co-Founder & COO at DASTAN, and Ryan Servatus, Mysten Labs, discuss how innovations in decentralized storage will impact on data resilience, scalability, and media solutions.
🎓 LEARN: ‘Idle Mine’ Game Guide: Tips to Earn More Bitcoin on iOS and Android
You can earn real Bitcoin on iOS and Android in the free resource mining game, Idle Mine. Follow these tips to boost your BTC earnings.
