Bitcoin’s recent plunge has had a ripple effect, dragging down major crypto-related stocks, including Tesla and Coinbase. The cryptocurrency saw a sharp 7% decline in its price, tumbling from $73,000 to around $63,000 in just under a week. This downward trend was exacerbated by a record daily outflow of $642.5 million from Grayscale’s spot Bitcoin ETF, GBTC, on Monday.
MicroStrategy, a software company known for its Bitcoin maximalist stance, also took a hit, experiencing a nearly 7.5% loss and trading at $1,384 at the time of writing. The company…
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