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JohnCM

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Re: creede post# 17930

Monday, 06/21/2021 9:43:21 AM

Monday, June 21, 2021 9:43:21 AM

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Bitcoin dropped 7% on Monday, trading under $33,000 for the first time in nearly two weeks, on reports that China's crackdown on cryptocurrency mining extended to the southwestern province of Sichuan. The Communist Party-backed Global Times estimates that more than 90% of China's bitcoin mining capacity has been shut down.

MicroStrategy (MSTR), one of the biggest corporate investors in bitcoin, said Monday it bought more, about $420 million worth at current prices, bringing its total investment in the cryptocurrency to $3.4 billion. Shares of MicroStrategy fell 7.5% in Monday's premarket as bitcoin dropped on the expansion of China's crypto mining crackdown.


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