{"id":61241,"date":"2022-05-10T16:15:52","date_gmt":"2022-05-10T13:15:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61241"},"modified":"2025-09-05T11:02:05","modified_gmt":"2025-09-05T08:02:05","slug":"coinbase-and-microstrategy-shares-slump-as-bitcoin-slides-toward-30000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinbase-and-microstrategy-shares-slump-as-bitcoin-slides-toward-30000\/","title":{"rendered":"Coinbase and MicroStrategy shares slump as Bitcoin slides toward $30,000"},"content":{"rendered":"<p>May 9 trading session on US stock exchanges ended with a broad sell-off in stocks tied to the cryptocurrency industry. Sector equities fell between 13.2% and 26.3%.<\/p>\n<p>On Monday, Bitcoin fell by almost 12%, and the Nasdaq slipped 4.3%.<\/p>\n<p>The laggards were Galaxy Digital (-26.3%), MicroStrategy (-25.6%), Coinbase (-19.5%), and Silvergate Capital (-19.2%).<\/p>\n<p>Bitcoin exchange-listed shares had fallen by 78% <a href=\"https:\/\/forklog.io\/startovali-torgi-aktsiyami-coinbase-na-nasdaq-obnovlyaetsya\/\">since the IPO<\/a>. The value of MicroStrategy&#8217;s 129,218 BTC on hand the day before had fallen below their purchase price (the average cost per coin is about <a href=\"https:\/\/forklog.io\/microstrategy-izuchit-novye-stsenarii-povysheniya-marzhinalnosti-hodlinga-bitkoina\/\">$30,700<\/a>). <\/p>\n<p>The session also proved difficult for miners:<\/p>\n<ul class=\"wp-block-list\">\n<li>Marathon Digital and Riot Blockchain shares fell by 19.2%;<\/li>\n<li>Core Scientific \u2014 down 13.2%;<\/li>\n<li>Hut 8 Mining \u2014 down 17%;<\/li>\n<li>Hive Blockchain \u2014 down 17.2%;<\/li>\n<li>Bitfarms \u2014 down 19.9%;<\/li>\n<li>CleansPark \u2014 down 13.8%;<\/li>\n<li>Bit Digital \u2014 down 16.15%;<\/li>\n<li>Argo Blockchain \u2014 down 14.7%.<\/li>\n<\/ul>\n<p>Nasdaq-100 futures rose by <a href=\"https:\/\/www.cnbc.com\/quotes\/@ND.1?qsearchterm=Nasdaq\">1.6%<\/a> and Bitcoin recovered to $31,750 <a href=\"https:\/\/forklog.io\/rates\/\">as of writing<\/a>, creating the prerequisites for a rebound in crypto-stock equities at the start of trading on May 10.<\/p>\n<p>Earlier, Galaxy Digital founder Mike Novogratz <a href=\"https:\/\/forklog.io\/majk-novograts-dopustil-dalnejshee-snizhenie-tseny-bitkoina\/\">warned<\/a> of further declines in Bitcoin&#8217;s price.<\/p>\n<p>In April, the top executive <a href=\"https:\/\/forklog.io\/novograts-nazval-uslovie-dalnejshego-rosta-bitkoina\/\">called<\/a> the pause in Federal Reserve tightening a condition for Bitcoin&#8217;s renewed growth.<\/p>\n<p> Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":"<p>May 9 trading session on US stock exchanges ended with a broad sell-off in cryptocurrency-related stocks, with sector equities down 13.2% to 26.3%.<\/p>\n","protected":false},"author":1,"featured_media":61242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1156,1211],"class_list":["post-61241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-institutional-investors-and-whales","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"315","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=61241"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61241\/revisions"}],"predecessor-version":[{"id":61243,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61241\/revisions\/61243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/61242"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=61241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=61241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=61241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}