MicroStrategy Stock Price Falls Below $100 Amid Broader Risk Asset Pullback

MicroStrategy's stock price has dropped below $100 for the first time since March 2024, hitting an intraday low of $99.49 before recovering slightly to trade around $100.25.

The company, which is the largest publicly traded corporate holder of Bitcoin, holds approximately 226,331 Bitcoins on its balance sheet, making its stock price highly correlated with the cryptocurrency's performance.

The drop in MicroStrategy's stock price comes amid a broader pullback in risk assets, with Bitcoin trading lower over the past week. The company's core business strategy is to acquire and hold Bitcoin, so its equity trades like a leveraged Bitcoin fund.