Shares of MicroStrategy fell on Tuesday after Citibank reportedly downgraded the business intelligence firm over its “disproportionate” Bitcoin focus.
Citi analyst Tyler Radke issued a “sell” rating on MSTR shortly after the company announced it was raising more money to buy Bitcoin (BTC). Radke says CEO Michael Saylor’s “disproportionate focus on bitcoin” puts investors at considerable risk, especially after an “overextended” rally since September.