MicroStrategy shares (MSTR) dropped on Tuesday as Bitcoin and broader markets fell due to instability in the Middle East.
Reports that Iran might be preparing an attack on Israel added uncertainty to global markets, with Bitcoin down 1.63% and trading below $63,000.
MicroStrategy holds approximately 252,220 bitcoins, acquired at an average price of $39,266 per bitcoin, meaning its stock often follows Bitcoin’s movement.
Despite the drop, the company announced updates to its AI/BI platform MicroStrategy ONE, featuring integration with Microsoft Teams and enhanced AI bot features.
Analysts have an average price target of $709.43 for MicroStrategy shares, with a high of $2150. As of Tuesday, shares are down 4.55% at $160.74.