MicroStrategy Inc. (NASDAQ:MSTR) shares dropped 2.35% in overnight trading on Robinhood Markets on Tuesday, falling to $386.80 as cryptocurrency markets reacted to President Donald Trump‘s inauguration speech that notably omitted any mention of digital assets.
What Happened: The enterprise software company, which holds over $45 billion in Bitcoin (CRYPTO: BTC), had seen its stock surge 8.04% to $396.50 on Friday amid optimism about Trump’s anticipated crypto-friendly policies.
The company’s executive chairman Michael Saylor attended a “Crypto Ball” last Friday where he met with Trump’s incoming cabinet members, fueling speculation about favorable cryptocurrency regulations.
However, Trump’s inaugural address focused instead on traditional assets, declaring the start of a “Golden Age of America” – a reference that prompted Bitcoin critic Peter Schiff to highlight the president’s apparent preference for gold over cryptocurrency.
Why It Matters: The speech’s omission of digital assets triggered a broader crypto market decline, with Bitcoin falling from $106,000 to $101,775.
The selloff comes as Trump named Mark Uyeda as acting U.S. Securities and Exchange Commission chair, replacing Gary Gensler.
The firm has been purchasing Bitcoin for ten consecutive weeks, according to its public disclosures.
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