Microstrategy fell 8.78% yesterday, to US$332.23in its debut on the Nasdaq 100, the index that brings together the main listed technology companies.
The business software provider, which advanced 11.56% on Friday, arrives on the Nasdaq 100 with a revaluation so far this year of 450% and converted into a bitcoin depository that, in addition, offers a range of instruments so that investors have some form of exposure to the cryptocurrency universes.
The listed company began buying bitcoin in 2020 as a hedge against contingencies such as inflation. lThe measure ultimately became a strategy and has now accumulated a position in the most popular cryptocurrency of more than 440,000 units.valued at about US$43,000 million (more than 41,300 million euros).
He has accumulated seven consecutive Mondays reporting that his position in bitcoin is increasing. Yesterday he announced the purchase of 561 million in bitcoin at a price close to the record of US$108,000. Microstrategy finances these purchases through the sale of its own shares, debt issues or bank loans..
Experts emphasize that, since it announced its business strategy in October, the evolution of the value is linked to that of bitcoin. In addition, they warn that hedge funds are behind a large part of the movement of their shares, which can translate into large increases or falls depending on whether these funds apply arbitrage strategies by buying bonds or short selling shares.
