Shares of cryptocurrency-focused companies like Coinbase and MicroStrategy jumped Thursday morning ahead of the first trading session of the new year as Bitcoin also rose.

MicroStrategy stock was down 7.2% to $306.24 in late morning trading. Shares of MicroStrategy, the world’s largest corporate holder of Bitcoin, are closely linked to the price of the currency. The price of Bitcoin is down about 2% in the past week,

Shares of MicroStrategy Incorporated lost 5% of their value on Monday as investors are starting to become concerned about Bitcoin prices. MicroStrategy, the largest of the bitcoin

MicroStrategy bought about $209 million of bitcoin in the past week, making it eight weeks in a row that the company has acquired more of the digital currency.

MicroStrategy shares plunged more than 8% following the recent $209 million purchase of Bitcoin. Investors worry that the company will take on too much debt for these purchases. The Bitcoin purchase happened just an hour before the Nasdaq opened at 2:30 pm UTC.

Bitcoin (BTCUSD) has had a tremendous run in 2024, with its price up more than 113% on a year-to-date basis. Still-high inflation and President-elect Donald Trump's support for the cryptocurrency led to the new-age safe-haven asset reaching new heights.