The decline in the shares of “Coinbase” and “Microstrategy”…Details here
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Answer The decline in the shares of “Coinbase” and “Microstrategy”…Details here
Coinbase’s stock price closed at $52.93 Tuesday, down 21% from the day’s initial price of $61.74.
Coinbase stock is now down 75% from the year, and 84% from an all-time high.
The drop is likely related to a recent investigation by the Securities and Exchange Commission (SEC) against trading, as the regulator believes that some of the cryptocurrencies listed on Coinbase are unregistered securities.
Of the 150 cryptocurrencies available on the platform, the SEC claims that ENS, GALA, POWR and ALCX are securities.
On the other hand, the loss of “Microstrategy” company is no less severe than that of “Coinbase”, as “Microstrategy” shares fell by more than 10% to $237.Read:Indian Finance Minister: Cryptocurrency Ban May Not Happen, Government May Try New Technologies
With a total market capitalization of $2.8 billion, MicroStrategy now owns 129,200 Bitcoin, worth approximately $2.7 billion.
After spending nearly $4 billion on accumulating its inventory, the Nasdaq-listed giant is sitting on an unrealized loss of $1.3 billion.
The recent decline in cryptocurrency-related stock prices came under massive downward pressure, coinciding with the current crypto winter that has ravaged the portfolios of retail and institutional investors alike.Read:For the first time, the US Treasury imposes sanctions on a cryptocurrency trading platform
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