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MicroStrategy stock plummeted 18% due to Bitcoin's price drop below $50,000, affecting other crypto firms like Coinbase and Marathon Digital.
MicroStrategy's stock fell by 18% on Monday as Bitcoin's price dropped below $50,000, impacting the company that holds 226,500 Bitcoins worth $8.3 billion.
The crypto market crash led to selling pressure on other publicly listed crypto firms, with Coinbase's share price falling by 15% and Marathon Digital's stock experiencing a 16% drop.
Trading platforms like Charles Schwab, Fidelity, and Vanguard also faced technical issues during the market downturn, affecting access to accounts for thousands of investors.
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