Why MicroStrategy Stock Plunged This Week

Shares of MicroStrategy (MSTR -1.11%) fell as much as 20.8% in the first four trading days this week as the price of Bitcoin dropped and the company's premium to assets on the balance sheet came down. On Friday morning, shares were still down 22.5% for the week in pre-market trading, according to data provided by S&P Global Market Intelligence.MicroStrategy and BitcoinWhat MicroStrategy is trying to do is use its stock to purchase more Bitcoin and increase the amount of Bitcoin held per share. The strategy ...