Strategy
plunged 8% on Monday after bitcoin dipped below the cryptocurrency treasury company’s average purchase price per token.
Bitcoin traded at about $74,500 at its bottom on Monday – its lowest price since last April.
That’s slightly below Strategy’s average purchase price of $76,052 per bitcoin, according to its regulatory filing dated Feb. 2, raising concerns that the Michael Saylor-led firm could be underwater if the digital currency continues to slide. The company holds roughly $56 billion in bitcoin, its website shows.
The pullback in shares comes as bitcoin has shed 11% over the past five days, largely due to mounting geopolitical concerns and expectations of a monetary policy shift in the U.S.
