As a seasoned analyst with over two decades of experience in the stock market, I must say, the current surge in tech stocks like MicroStrategy (MSTR) is nothing short of exhilarating. Having closely followed the Bitcoin landscape since its inception, I can confidently assert that this digital gold rush is not a fleeting trend but a paradigm shift in the global financial system.
As an analyst, I’m observing that this week is shaping up to be one of the strongest performances for the stock market this year. This upturn can be attributed to two significant events: first, Donald Trump’s victory in the presidential election, and second, another round of interest rate cuts. These factors have particularly benefited tech stocks like MicroStrategy (MSRT), pushing them to reach their 52-week high.
Currently, Mastercard’s stocks are being traded on Nasdaq at $271.26, representing a rise of almost 20% in the last five days. The company specializing in enterprise analytics and mobility software has experienced a remarkable increase of approximately 486% over the past year, largely due to its strategy involving Bitcoin reserves.
As a crypto investor, I’m proud to be associated with the strategic moves of the company led by Bitcoin advocate Michael Saylor. Currently, our portfolio boasts over 250,000 Bitcoins, valued at approximately $19 billion at present prices. Looking ahead, our vision is as bold as it gets – we aim to invest an additional $42 billion in Bitcoin by the year 2027.
Other stocks associated with Bitcoin also experienced a robust week. The shares of Bitcoin mining company CleanSpark (CLSK) increased by approximately 35% during this period, while Coinbase (COIN), a major contributor to U.S. elections in the crypto space, witnessed its stock climb by over 48%.
Investor confidence is being boosted due to anticipation of a more advantageous economic climate if Trump wins reelection and potential additional easing from the Federal Reserve. In September 2024, the Fed reduced interest rates by 0.5 percentage points for the first time in over four years. Later on Nov. 7, they made another cut of 0.25%, bringing the federal funds rate down to a range of 4.5% – 4.75%.
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2024-11-09 00:26