Bitcoin could fall as much as 20% after breaking $100,000 as levered bets unwind, crypto billionaire Mike Novogratz says [Yahoo! Finance]
MicroStrategy Incorporated - Class A (MSTR)
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Source: Yahoo! Finance
Novogratz sees a sell-off taking bitcoin as low as $80,000 before it rallies again. As bitcoin charges through a string of record highs, investors should brace for a pullback that briefly snaps the rally, Galaxy CEO Michael Novogratz told CNBC "There's a ton of leverage in the system right now," the billionaire investor said, and added: "The crypto community is levered to the gills, and so there will be a correction." Though Novogratz is certain that the apex token will soon cross the six-digit threshold, he outlined that it could eventually fall as far $80,000, although he sees that as the absolute floor. That would represent a 20% decline from the $100,000 threshold. Levered stocks and ETFs also look primed for trouble ahead, he said, citing MicroStrategy as one example. "There will be some sharp corrections, certainly in the stocks that are more levered than the underlying commodity itself," Novogratz said. Still, it's "inevitable" that bitcoin will hit $100,000 , he s
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News
- Crypto Bull Market: Big News For Bitcoin, Solana, XRP And ETFs [Yahoo! Finance]Yahoo! Finance
- Bitcoin Flirts With $100,000 on Optimism Over US Crypto Outlook [Yahoo! Finance]Yahoo! Finance
- MicroStrategy Falls 16% Despite New Bitcoin Record as Some Question Valuation [Yahoo! Finance]Yahoo! Finance
- Canaccord's Joseph Vafi on what's next for bitcoin proxy Microstrategy [CNBC]CNBC
- Bitcoin investor MicroStrategy tumbles 16% after short report [Financial Times (FT.com) (UK)]Financial Times
MSTR
Sec Filings
- 11/21/24 - Form 144
- 11/21/24 - Form 8-K
- 11/20/24 - Form 8-K
- MSTR's page on the SEC website