MicroStrategy (MSTR) shares fell Thursday as Bitcoin prices dropped. The cryptocurrency fell below the $84,000 threshold during the session.
The parent company of STRC saw its stock decline more than 3% in premarket trading. MSTR led losses among major crypto-related equities as the broader market experienced a selloff.
Bitcoin prices decreased by over 3% within a 24-hour period. This price reversal triggered more than $600 million in liquidations across the crypto market.
Wider market pressures also weighed on crypto-linked stocks. Treasury yields spiked during the downturn, while rising oil prices added further pressure to the sector.