MicroStrategy Stock Plunges Show Risks of Leveraged Bitcoin Bet

MicroStrategy's stock plunges show the risk of owning shares in a company that uses leverage to buy Bitcoin
MicroStrategy has about $14B in Bitcoin, making its stock a proxy for those who want exposure without buying crypto directly
MicroStrategy trades at a 90%+ premium to the value of its Bitcoin due to its ability to raise debt to buy more
The stock may appeal to some investors as a way to bet on Bitcoin rebounding without the fees of a crypto ETF
However, the leverage MicroStrategy uses makes its stock much more volatile compared to Bitcoin itself