Investing

MicroStrategy shares drop on bitcoin’s slide, SEC rejection of company’s crypto accounting

0


MicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida.

Joe Raedle | Getty Images

Shares of MicroStrategy tumbled 17.8% Friday afternoon after the U.S. Securities and Exchange Commission reportedly rejected the company’s bitcoin accounting strategy.

The business-intelligence software company’s stock had been falling in tandem with the price of bitcoin, which dropped more than 10% Friday to its lowest point since August. MicroStrategy shares are down 24.7% for the week.

A filing released Thursday showed the SEC rejecting the accounting method MicroStrategy was using…



Source cnbc.com

0 0 votes
Article Rating

Cramer says Netflix’s plunge shouldn’t scare investors about the overall market

Previous article

TotalEnergies, Chevron withdraw from Myanmar amid humanitarian crisis

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Investing