MicroStrategy’s Bitcoin Bet Takes a Hit as Stock Declines 20% in Three Days, Bitcoin Holdings Drop $6 Billion in Value

MicroStrategy's stock plunged more than 11% early Tuesday as Bitcoin dropped below $90,000 to a three-month low. The stock has fallen for three straight days, losing over 20%. MicroStrategy recently bought over 20,000 Bitcoins at an average price of nearly $97,000, but the decline has already erased about $200 million in value. The company's Bitcoin holdings have plunged by $6 billion since Friday but remain profitable, despite the dip.