The Biggest Reason Why Microstrategy is Down Today

There are two sides to Microstrategy (MSTR). The first is the business intelligence tools side, which is actually a lot less popular than the second side - a massive bitcoin (BTC-USD) investor. Microstrategy lost ground because its large bitcoin holdings—around 129,699 as of its last report—lost ground overnight. Bitcoin briefly dropped below $22,000, the latest in a series of drops for the cryptocurrency. The last 12 months for Microstrategy shares started out sound, but that eventually shifted. This time last year, the company was challenging $720 per share. In early November, it cleared $860 per share. That, however, was where Microstrategy's party ended.