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Bitcoin is soft as hell.
The decline of the Nasdaq is almost fully recovered, leaving only MicroStrategy and BMNR, which are dropping to the bottom with the market.
Recall how the CEO of MicroStrategy would always boast and hint at increasing their holdings.
Now looking back, those guys always buy at the "top."
They should make a trophy and give it to him.
A few days ago, BlackRock was unloading, and today BlackRock has no movement either.
If big institutions are really targeting these two weaklings for shorting, they better come up with a plan.
MicroStrategy has already been labeled a "junk stock," and playing with convertible bonds and secondary offerings might not work anymore.
If the decline continues and they face early debt repayment, it won't be fun.
If it drops further, heading towards 1022-1020, it’s just a pointless rise.