MicroStrategy (MSTR) Falls 22% As Crypto Stocks Suffer During Market Drop

Crypto stocks fell at the opening of the US market on Monday after a disastrous fall in the crypto market on Sunday afternoon.

Shares of MicroStrategy (MSTR), the world’s largest corporate owner of Bitcoin, are now trading at $1,212, down 16% from Friday’s close.

Meanwhile, Coinbase (COIN), the largest and only publicly traded cryptocurrency exchange in the United States, is trading at $181, down 11% since Friday. As for Bitcoin mining companies, the Valkyrie Bitcoin Miners ETF (WGMI) sank 10.8% since Friday to $16.50 a share. One of the best performing mining stocks this year, CleanSpark (CLSK) is now trading at $11.29, meaning its shares are up just 3.77% since January 1st. Some of the most affected stocks are the ‘copycats’ of MicroStrategy, companies that have become popular. as BTC brokers after turning Bitcoin into a reserve asset on their balance sheet. DeFi Technologies ( DEFTF ), the Canadian fintech company, is down 24% from Friday to close at $1.14. Metaplanet, which has been described as the “MicroStrategy of Japan”, has dropped to JPY 670 from JPY 820 last week. While all of these stocks have undoubtedly fallen, they all recovered slightly from their immediate opening prices as crypto experienced a slight recovery at the time. Both Bitcoin (BTC) and Ethereum (ETH) are up 6.8% in the last hour to $53,000 and $2,370 respectively. SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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