Amid a dramatic crypto market crash on Wednesday that saw the price of Bitcoin plunge by as much as 30%, tech companies with exposure to Bitcoin also saw their shares slump.
On a morning when all three major stock indices were down more than 1%, crypto-exposed tech names were in worse shape.
Software company MicroStrategy (MSTR) was down by as much as 14% in pre-market trading, then rebounded slightly to be down 8.4% on the day as of noon EST, dropping from $487 to lows of $415. Coinbase stock (COIN) slumped by 7% to an all-time-low of $212. (The stock is now off 50% from its all-time-high of $430 on April 14.) Tesla stock (TSLA) slipped by 4.35%, from $592 on Tuesday to lows of $550. Square (SQ) and PayPal (PYPL) were down 6% and 3.5% in pre-market, respectively, but made up ground to be down 3.2% and 1% as of noon EST.
Cryptocurrencies plummeted by billions, with the total crypto market capitalization dropping by 19.5% in the last 24 hours to $1.7 trillion. Bitcoin is currently dow
Źródło: https://decrypt.co/71393/bitcoin-exposed-stocks-fall-on-cryptos-black-wednesday
