In a notable rebound, MicroStrategy Inc. experienced an 8.03% rise in pre-market trading on Wednesday following the slow recovery of Bitcoin (CRYPTO: BTC). This comes after a significant 12.33% drop and closing at $353.69 the previous day, as per Benzinga Pro.
What Happened: On Wednesday, at 6:00 AM ET, Bitcoin was trading around $93,789.55 after dropping to $92,000 levels on Tuesday. Consecutively, MicroStrategy, with a holding of 386,700 Bitcoins valued at $35.4 billion, experienced an upward tick in its pre-market activity.
The company, under the leadership of CEO Michael Saylor, has been a focal point of market speculation due to a 23.64% decline in its stock over the past five sessions. This period also saw a 5.52% decrease in Bitcoin.
Analysts are questioning the sustainability …
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