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Did investors really sell because of this news?

It just so happened that bitcoin dropped about 5% on the same day. Microstrategy is quickly turning into a defacto bitcoin ETF. Maybe the bitcoin price drop had something to do with the stock price drop.

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Bitcoin chart was set up for a short, and many traders shorted it that day. Once they closed their positions (after pushing the price down as far as they could) the price have quickly rebound.

Man it would be so juicy to do an arb trade of the stock against the price of Bitcoin. I’d bet there’s a great lead lag relationship.

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