Why Stocks With Bitcoin Ties Crashed in August
MSTRMicroStrategy(MSTR) The Motley Fool·2024-09-06 02:49

Check out the economic factors and company-specific risks behind these drops. Many stocks in the orbit of leading cryptocurrency Bitcoin (BTC -2.64%) plunged in August. Here are a few prominent examples, according to data from S&P Global Market Intelligence: As expected, exchange-traded funds (ETFs) tied to Bitcoin's spot price, such as the iShares Bitcoin Trust ETF (IBIT -2.59%), matched the cryptocurrency's 10.4% price drop almost exactly. Meanwhile, the enthusiastic Bitcoin investors of MicroStrategy (MS ...