Zinger Key Points
- Strategy and other crypto-linked stocks are trading lower after Bitcoin fell below $90,000.
- Strategy is currently trending across multiple social media platforms.
- Get real-time earnings alerts before the market moves and access expert analysis that uncovers hidden opportunities in the post-earnings chaos.
Strategy, Inc. MSTR shares are trading lower on Tuesday after Bitcoin BTC/USD fell below $90,000.
The Details: Strategy holds a significant amount of Bitcoin on its balance sheet, so its stock often reacts to changes in Bitcoin's price. At the time of writing, Bitcoin is trading at about $86,705.30, according to data from Benzinga Pro.
Other crypto-linked stocks include MARA Holdings MARA, IREN Limited IREN and Hut 8 Corp. HUT. These stocks are also heavily influenced by the price action of Bitcoin since the companies are heavily involved in Bitcoin mining.
Notably, Strategy is currently trending across multiple social media platforms.
What Else: On Monday, the company announced the completion of its $2 billion offering of 0% convertible senior notes due 2030. The company raised about $1.99 billion after deducting fees and plans to use the funds for general corporate purposes, including the acquisition of Bitcoin and working capital.
See Also: If You Invested $100 In This Stock 20 Years Ago, You Would Have This Much Today
MSTR Price Action: At the time of publication, MicroStrategy shares are trading 11.6% lower at $249.91, per data from Benzinga Pro.
Image: via Shutterstock
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