The owner of more roughly 132,500 bitcoin (BTC), MicroStrategy is sometimes considered a bitcoin proxy, allowing traders – who for regulatory or other reasons cannot or don’t want to own it – to place bets on the crypto’s direction. MSTR suffered along with bitcoin in 2022, its stock plunging more than 70% as bitcoin slumped from about $48,000 in late March to close the year out at $16,500.
