- MicroStrategy stock has outperformed BTC, miner stocks and Coinbase’s COIN.
Despite having more upside potential on price charts, MSTR could be affected by BTC’s pullback.
As an experienced financial analyst, I’ve closely followed MicroStrategy’s (MSTR) impressive outperformance against Bitcoin (BTC), miner stocks, and Coinbase’s COIN over the past few days. MSTR’s remarkable double-digit gains have left other BTC-linked stocks in the dust, with a 3.6X increase in performance compared to COIN on the weekly chart.
Last week, MicroStrategy’s stock (MSTR) stood out as the top-performing among those with significant exposure to Bitcoin (BTC).
Last week, MSTR’s shares experienced a significant surge, gaining 34%, and regained the $1500 mark. This upward trend was driven by Bitcoin’s recovery in value and MicroStrategy being added to the MSCI Index. The rally continued into this week, reaching a peak of $1740 on May 22nd, resulting in an additional 4% increase.
As a crypto investor, I’ve been impressed with MicroStrategy (MSTR) outperforming other Bitcoin-related investments, including Coinbase (COIN), with double-digit returns that have truly stood out in the market.
MicroStrategy stock vs other BTC-linked stocks
As a crypto investor, I’ve observed an intriguing difference in the weekly performance of MicroStrategy’s shares and those of Coinbase, the leading US cryptocurrency exchange, represented by its ticker symbol COIN. MicroStrategy’s shares have delivered impressive gains that are approximately three-and-a-half times greater than Coinbase’s when taking into account adjustments for weekly returns.
MSTR was up 22% in the past five trading days, compared to COIN’s 6% over the same period.
It’s intriguing to note that the shares of Bitcoin mining collectives experienced substantial double-digit increases as well, though they fell slightly short compared to MSTR during this timeframe.
Significantly, the WGMI ETF focusing on leading Bitcoin miner stocks, such as Marathon Digital’s share [MARA], experienced a rise of 12.8% within the recent five-day market stretch.
In the past five trading days, MSTR outperformed both COIN and Bitcoin miner stocks. It’s important to mention, however, that COIN’s performance has been subdued due in part to an ongoing legal dispute with the US Securities and Exchange Commission.
Under the leadership of its founder and CEO, Michael Saylor, MicroStrategy continues to pursue its Bitcoin approach.
Up to this point in Q2, the company acquired an additional 122 Bitcoins, increasing its Bitcoin holdings to approximately 214,400 coins. With present market values, these coins amount to more than fifteen billion dollars.
With a total of 17.7 million shares as of May 22nd, each share in the firm held roughly 0.01209 Bitcoins.
As a researcher studying investment trends, I’ve observed an intriguing phenomenon: A significant influx of investors has flocked towards MicroStrategy (MSTR), at times even surpassing Bitcoin (BTC) itself, the primary asset these investors aim to gain exposure to.
As a crypto investor, I’ve been closely monitoring the market, and I must admit that Microsoft (MSTR) has been particularly captivating recently. When I compare its performance to Bitcoin (BTC), I can’t help but feel drawn in. Over the past week, month, and year-to-date, MSTR has surpassed BTC’s returns. This trend is not lost on me, and it adds to my growing interest in Microsoft as a potential investment opportunity.
In May, Mastercard Incorporated’s stock (MSTR) experienced a 55% increase in comparison to Bitcoin’s (BTC) 15% rise. Year-to-date (YTD), MSTR’s growth outpaced Bitcoin significantly, with gains totaling over 140%, while Bitcoin saw an appreciation of approximately 58%.
Based on past performance, Mastercard stockholders experienced superior returns compared to Bitcoin investors. Regarding future pricing, it’s essential to consider various factors such as market trends, economic indicators, and company-specific news that could potentially impact Mastercard’s stock price. Keeping an eye on these elements can help provide valuable insights into potential price movements for Mastercard.
What’s next for MSTR’s price?
As an analyst, I’ve identified two significant levels of potential resistance for potential bullish advancements in the daily chart. These levels are the all-time high (ATH) at $1999 and another level at $2300, as indicated by the Fibonacci retracement tool marked in yellow. The Relative Strength Index (RSI), which I’ve been closely monitoring, suggests that these targets could be within reach given the bullish reading on this indicator.
Despite MSTR having higher prices than BTC as of now, a potential decline in Bitcoin could result in losing some of MSTR’s recent price advances.
Currently, Bitcoin (BTC) has retreated slightly to around $70,000 after previously reaching peak prices of $71,000. Meanwhile, Microstrategy’s (MSTR) stock price stood at approximately $1650. A potential advancement in MSTR could be interrupted if Bitcoin continues its pullback.
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2024-05-23 00:07