Bitcoin Slides 5.7%, MicroStrategy Shares Drop 13% on Convertible Notes Offering, Bitcoin Prices Fall
Bitcoin experienced a significant drop of 5.7% in its largest one-day decline in two weeks, leading to a wave of selling in cryptocurrencies and other risk assets like stocks. MicroStrategy completed a $603.75 million offering of convertible notes, causing its shares to fall by 13% as bitcoin prices decreased. The company is the largest corporate holder of bitcoin.
Sources
Bloomberg
MicroStrategy investors who bought shares of the biggest corporate holder of Bitcoin to gain amped-up exposure to the digital asset are getting a painful reminder of its brutal volatility. https://t.co/mtVj3VmTcB
CNBC Tech MicroStrategy, largest corporate holder of bitcoin, drops as much as 18% as cryptocurrency falls https://t.co/j35Pjy4z7M
Reuters MicroStrategy shares fall 13% after convertible deal for bitcoin purchases https://t.co/uXZkU02Svw https://t.co/3558yZWFnS
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