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Bitcoin slump shakes companies that jumped on crypto-hoarding bandwagon
Turbulence in the cryptocurrency market is dragging down shares of companies that hold bitcoin and other digital assets on their balance sheets, sparking concerns over potential broader strains in the sector. The number of publicly traded companies investing in cryptocurrencies in the hope they would appreciate boomed last year. Many were buoyed by U.S. President Donald Trump's crypto-friendly stance and inspired by the meteoric success of billionaire Michael Saylor's Strategy, which started out as software company MicroStrategy and began buying and holding bitcoin in 2020. However, concerns over the valuations ... (full story)
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