What happened Shares of MicroStrategy (NASDAQ: MSTR) closed Thursday's trading 10.5% lower. The company had no news of its own but the general market tenor pulled down many skyrocketing stocks today. The S&P 500 market barometer fell 2.4% and the tech-heavy Nasdaq 100 index dropped 3.5%. Only 47 of the S&P 500's five hundred components traded higher on Thursday. So what MicroStrategy's correction did not occur in a vacuum. The business intelligence company's stock surged 14% higher on Wednesday, paving the way for a quick haircut the next day. Wednesday's gain was based on rising Bitcoin (CRYPTO: BTC) prices and the announcement that MicroStrategy had deployed another $1 billion in Bitcoin shares. The company now has approximately 90,531 Bitcoins in its treasury, worth roughly $4.4 billion at the cryptocurrency's current price of $49,050 per share. This investment accounts for a large portion of MicroStrategy's total market value of $7 billion, making the stock sensitive to Bitcoin price swings. Image source: Getty Images. Now what Many investors retreated from risky growth stocks today, rotating into cash or lower-priced securities. MicroStrategy was caught in that wave and amplified it as Bitcoin traded sideways today, removing some of the momentum that had been boosting MicroStrategy's stock the day before. This stock will continue to rise and fall with Bitcoin in the long run, as CEO Michael Saylor has made it clear that he plans to continue making investments in Bitcoin for the long haul. Today, market makers saw more risk than reward in that attitude. 10 stocks we like better than MicroStrategyWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and MicroStrategy wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Anders Bylund owns shares of Bitcoin. The Motley Fool recommends Bitcoin and MicroStrategy. The Motley Fool has a disclosure policy.Source