MicroStrategy, owner of approximately 132,500 Bitcoins (BTC), is sometimes considered a Bitcoin proxy, allowing traders (who cannot or do not want to own it for regulatory or other reasons) to bet on the direction of the crypto. MSTR suffered alongside Bitcoin in 2022, with its stock plummeting more than 70% as Bitcoin plummeted from around $48,000 in late March to end the year at $16,500.
