MicroStrategy (MSTR), a Bitcoin acquisition company, saw a significant drop in its shares after Bitcoin reached an all-time high of $100,000. MSTR's shares fell by 4.8% the following day, resulting in a 28% retracement from its own all-time high. The company's value is primarily based on its BTC holdings, and investors were hoping for a higher valuation. Despite the dip, MicroStrategy and its CEO, Michael Saylor, still have a strong following. Saylor claims to generate yield from bond markets and arbitrage strategies for the benefit of shareholders. While BTC doesn't offer native yield, MicroStrategy aims to provide it. The company has seen significant success this year, with its stock price increasing by over 500% and it potentially being included in the NASDAQ-100 index.



Other News from Today