Bitcoin slips under $17K, crypto stocks tumble in reaction to FTX bankruptcy

[Google News Bot]

Bitcoin (BTC), Ether (ETH) and cryptocurrency-linked stocks like MicroStrategy are seeing a sharp downturn after news broke that FTX announced filing for Chapter 11 bankruptcy and Sam Bankman-Fried stepping down as CEO. Bitcoin, Ethereum and MicroStrategy comparison. Source: TradingView Crypto-linked stocks decline MicroStrategy (MSTR), led by the outspoken advocate of Bitcoin Michael Saylor, is down 32.57% on Nov. 11 in a 5-day period. MicroStrategy holds about 130,000 Bitcoin and, therefore, its stock price is heavily correlated with BTC/USD. Meanwhile, the tech-heavy NASDAQ has gained ...

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