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.
Source: https://www.coindesk.com/business/2023/01/10/market-maker-group-one-discloses-135-stake-in-microstrategy/?utm_medium=referral&utm_source=rss&utm_campaign=headlines