{"id":1428,"date":"2022-01-26T17:12:59","date_gmt":"2022-01-26T17:12:59","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=1428"},"modified":"2022-01-26T17:13:00","modified_gmt":"2022-01-26T17:13:00","slug":"coinbase-microstrategy-stocks-tank-alongside-crypto-market","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=1428","title":{"rendered":"Coinbase, MicroStrategy Stocks Tank Alongside Crypto Market"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<h3>Key Takeaways<\/h3>\n<p>Companies with cryptocurrency dealings have sustained significant losses in market value today.<br \/>\nMajor losers include Coinbase, which has hit its all-time low, and MicroStrategy, the value of which is lower than its underlying Bitcoin holdings.<br \/>\nOther crypto stocks and coins are down today as well.<\/p>\n<p>Share this article<\/p>\n<p>Two of the most prominent cryptocurrency-related stocks are enduring significant losses today: Coinbase and MicroStrategy are down almost 9% since today\u2019s market open, with others registering losses as well.<\/p>\n<h2>Crypto Market Sell-Off Extends to Stocks<\/h2>\n<p>The recent depression in stock prices has been especially bad for many companies related to cryptocurrencies.<\/p>\n<p>Crypto companies have been devastated in recent weeks, with Coinbase and MicroStrategy suffering double-digit losses today alone. Today, Coinbase hit all-time lows since going public last April, wicking down to just over $162 per share. MicroStrategy hit its 52-week low today, touching $319.01 per share; the stock enjoyed prices of $1,315 less than a year ago. The price of MicroStrategy shares currently sits at prices that represent only slightly more than a doubling since before the company started buying Bitcoin in 2020.<\/p>\n<p>The recent situation has been so grave for MicroStrategy that the company\u2019s market capitalization now hangs below the value of the Bitcoin it holds. MicroStrategy\u2019s capitalization is down to around $3.45 billion, but the value of its 124,391 Bitcoin (the amount it was known to hold as of Dec. 29), at the current price of approximately $34,000 per Bitcoin, is roughly $4.23 billion.<\/p>\n<p>Other significant digital assets-related stocks are down, too. Galaxy Digital, Mike Novogratz\u2019s crypto financial services and investment management firm, was dealt a 9% blow to its valuation today alone. Crypto mining companies such as Marathon, Riot, and Hut 8 are down roughly 3%, 5%, and 7% respectively since Monday\u2019s market open.<\/p>\n<p>Even Jack Dorsey\u2019s Block\u2014formerly Square\u2014is down 6%, having also touched its 52-week low today.<\/p>\n<p>The two blue-chip crypto coins are both down today, though BTC, down less than .5% over 24 hours at press time, is struggling less than ETH, which is down 4% on the day. Solana\u2019s SOL and Polygon\u2019s MATIC are also standout losers today, down 9% and 10%, respectively.<\/p>\n<p>Major indices of the U.S. stock market like, such as the Nasdaq and the S&amp;P 500, have fallen around 2.5% today.<\/p>\n<p><em>Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies. <\/em><\/p>\n<p>Share this article<\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<h3 class=\"title\">Bitcoin Whale MicroStrategy Puts on More Holiday Blubber<\/h3>\n<p>\nMicroStrategy owns over half a percent of all Bitcoin currently in existence. The company has regularly made large Bitcoin purchases since its first major buy in August 2020. MicroStrategy Buys&#8230; <\/p>\n<h3 class=\"title\">MicroStrategy Buys The Dip With $489 Million BTC Purchase<\/h3>\n<p>\nMicroStrategy has completed a $489 million Bitcoin purchase from the proceeds of the sale of $500 million in senior debt notes last week.\u00a0 MicroStrategy and the Big Bitcoin Bet\u00a0 The&#8230; <\/p>\n<h3 class=\"title\">Is Time on our Side? The Case for Bitcoin\u2019s Lengthening Cycles<\/h3>\n<p>\nOne of the many unique features of BTC is its halving process, which is often accompanied by a bullish movement and preceded by bearish consolidation. Bitcoin\u2019s halving events have been&#8230; <\/p>\n<h3 class=\"title\">Microstrategy Buys Another $10 Million Worth of BTC in Cash<\/h3>\n<p>\nMicrostrategy CEO Michael Saylor announced today that the company has just bought 295 BTC with $10 million in cash. Microstrategy\u2019s Major Bitcoin Balance Sheet Microstrategy owns well over $1 billion&#8230; <\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/coinbase-microstrategy-stocks-tank-alongside-crypto-market\/?utm_source=main_feed&#038;utm_medium=rss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Companies with cryptocurrency dealings have sustained significant losses in market value today. Major losers include Coinbase, which has hit its all-time low, and MicroStrategy, the value of which is lower than its underlying Bitcoin holdings. Other crypto stocks and coins are down today as well. Share this article Two of the most prominent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[4],"tags":[],"class_list":["post-1428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1428"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1428\/revisions"}],"predecessor-version":[{"id":1430,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1428\/revisions\/1430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/1429"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}