Blockchains | Cryptocurrencies | Web3 Resource logo Blockchains | Cryptocurrencies | Web3 Resource logo
Seeking Alpha 2021-06-24 15:58:52

MicroStrategy stock claws back from drop as bitcoin appears to stabilize

MicroStrategy (MSTR) stock climbs 3.3% in midday trading, recovering a fraction of the 14% slide the shares suffered since Monday's open.Since deciding in September 2020 to make bitcoin its primary treasury reserve, and continually adding to its bitcoin holdings, MSTR's stock has largely been tied to moves in the largest cryptocurrency by market cap.As of June 21, MSTR held 105,085 coins, having added 13,005 recently.Bitcoin rises 1.8% in the past 24 hours, recently trading at $34.1K, having stabilized somewhat from its sudden dip earlier this week.As for other cryptocurrencies, ethereum (ETH-USD) rises 1.0%, approaching the $2,000 level; Binance Coin (BNB-USD) gains 5.2% to $307.11; Cardano (ADA-USE) surges 12% to $1.38; Litecoin (LTC-USD) climbs 5.5% to $134.15; dogecoin (DOGE-USD) gains 4.9% to 24 cents.As for other crypto-related stocks, Marathon Digital ([[MARA]] +5.5%), Riot Blockchain ([[RIOT]] +2.5%), Coinbase ([[COIN]] +0.9%), SOS Ltd ([[SOS]] +0.9%), Bitfarms ([[BITF]] +1.6%).The sole crypto-related stock that's down today appears to be

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer