MicroStrategy has had its share price drop by as much as 30% since 2020, as the volatile crypto market saw (BTC’s) prices plunge to $30k.

MicroStrategy (MSTR) Drops Alongside Bitcoin

Business-intelligence software firm MicroStrategy, which led the world in institutional crypto investment, is feeling the effects of the recent Bitcoin crash, triggered by the Fed’s hike of interest rates.

This is the 7-day price chart of Bitcoin. Source: CoinMarketCap

Over the last week, the price of Bitcoin has fallen by more than 20%, with the world’s largest crypto dropping to below $30k for the first time in 10 months. MicroStrategy has suffered a plunge in share prices due to its bitcoin stash (BTC).

MSTR’s 5 day price chart. MarketWatch

MicroStrategy shares (MSTR) fell by as much as 24% Monday. It was their lowest level in over a decade, since 2020.

The MicroStrategy Options Hedging Could Fall by 96%

Although MSTR has recovered from its low of $208, recorded on Tuesday, to take its current price of $228.6 as of this writing, the company’s share prices could further diminish if Bitcoin sinks further.

In anticipation of further losses, some traders have put options targeting a drop to $10 – representing an approximate 96% decline from its current share prices of around $228. MSTR stock has been unable to be purchased for $40, $20, and even $10.

Flipside

• Regardless of the losses MicroStrategy has incurred due to Bitcoin’s crash, Michael Saylor, the founder of Microstrategy (NASDAQ:), remained firm to his promise that the company would not sell its BTC.

Why you should care

MicroStrategy’s committment to Bitcoin means that performance on the stock market closely that of Bitcoin.

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