Portnoy’s Bitcoin, XRP Losses Mount In $390B Crypto Drop
Strategy’s surprise sale of 32 Bitcoin for $2.5 million to fund preferred stock distributions rattled investors, raising fears it may sell more to meet obligations, as Bitcoin and Ether posted their worst weekly losses since 2022 and crypto-linked stocks like Coinbase and Robinhood plunged up to 11% amid a $390 billion market wipeout.