Suffering from Citron's short selling! "Bitcoin shadow stock" microstrategy experienced a terrifying day, closing down more than 16%.
In the crypto world, a day can feel like a decade in reality. From a historical high to a typical 20% technical bear market, microstrategy only took an hour. For a company with a market cap just breaking 100 billion dollars, a drop of over 30% from its historical peak can happen in a single day. Citron Research claims that microstrategy has effectively turned itself into a bitcoin investment fund. Great respect for microstrategy CEO Saylor, but even he must know that MSTR has become overheated.
Solana Hits $318B in Volume: Is Bot-Driven Growth a Risk for SOL?
Cardano Can Hit $3 as Altcoin Trading Volume Reach 2021 Highs – Here's Why
News Highlights: Top Financial Services News of the Day - Tuesday at 7 AM ET
BIT Mining to Pay $10M in Bribery Scheme Fallout
SEC Charges BIT Mining With FCPA Violations in Connection With Bribery Scheme to Influence Members of Japanese Parliament