MicroStrategy Down 2.35% in Overnight Trading After Trump’s Inauguration Speech on Cryptocurrency Sidelines, Bitcoin Falls Below $102K – MicroStrategy (NASDAQ:MSTR)

MicroStrategy Corporation MSTR Shares fell 2.35% in overnight trading on Robinhood Markets on Tuesday, falling to $386.80 as cryptocurrency markets reacted to the president. Donald TrumpHis inaugural speech specifically omitted any mention of digital assets.

What happened: Enterprise software company, with a valuation of more than $45 billion Bitcoin Bitcoin/US Dollarsaw its shares rise 8.04% to $396.50 on Friday amid optimism over Trump’s expected cryptocurrency-friendly policies.

CEO of the company Michael Saylor He attended the “Crypto Ball” last Friday where he met with new members of Trump’s cabinet, sparking speculation about favorable cryptocurrency regulations.

However, Trump’s inauguration speech instead focused on traditional assets, declaring the beginning of “America’s Gilded Age” — a reference that galvanized Bitcoin’s critics. Peter Schiff To highlight the president’s clear preference for gold over cryptocurrencies.

See also: Bitcoin, Ethereum, Dogecoin decline from pre-inauguration highs as Trump skips Cryptocurrency Reference: Analyst Highlights BTC Consolidation in $101K-$106K Range

Why does it matter?: The speech’s omission of digital assets led to a broader decline in the cryptocurrency market, with Bitcoin falling from $106,000 to $101,775.

The sales are as described by Trump Mark Ueda As acting chairman of the US Securities and Exchange Commission, replacing… Gary Gensler.

The company has been buying Bitcoin for ten consecutive weeks, according to its public disclosures.

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Disclaimer: This content was produced in part with the help of artificial intelligence tools and was reviewed and published by Benzinga editors.