MicroStrategy Plunges as Searches for Meme Coins Hit Record High

MicroStrategy (MSTR) plunged by 15.69% today as Michael Saylor has sold $201 million worth of MSTR shares in 2024 year-to-date. Who are the people buying MSTR in 2024? People who see Bitcoin miners underperforming so they go all in on MSTR like they went all in on Cathie Wood's ARKK at the peak of the 2021 bubble. Michael Saylor is the Cathie Wood of 2024.

Google searches for "meme coins" are up to a new all-time high of more than double the 2021 bubble top.