Bitcoin Stocks Decline Amid MicroStrategy's Major Bitcoin Purchase

1 day ago

Bitcoin-related stocks experienced a downturn as Bitcoin's price dipped slightly by 0.13%. Canaan Inc. (CAN) saw a decline of over 5.5%, MicroStrategy (MSTR, Financial) fell by more than 4%, Coinbase (COIN) dropped over 2%, and MARA Holdings (MARA) decreased by 0.8%.

MicroStrategy (MSTR, Financial) recently acquired 5,262 Bitcoins at a cost of approximately $561 million, equating to about $106,662 per Bitcoin. The company reported a quarterly return of 47.4% and a year-to-date return of 73.7%. As of December 22, 2024, MicroStrategy holds a total of 444,262 Bitcoins, valued at approximately $62,257 per Bitcoin, amounting to around $27.7 billion.

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