With Bitcoin exploding higher, so is MicroStrategy (MSTR).

As we said on October 8, “While you can always buy Bitcoin directly, you can also buy Bitcoin-related stocks, like MicroStrategy (MSTR). What makes it really exciting is its 252,220 Bitcoin holdings – which are now worth just over $15.6 billion at the moment. That means every time Bitcoin runs, the value of MSTR’s BTC holdings runs, which sends shares of MSTR s higher.”

At the time of that note, MSTR traded at about $186. Today, thanks to the rally in Bitcoin, the MSTR stock is now up to $346.48 and could push even higher. 

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Plus, over the last few days, MSTR bought another 27,200 BTC for $2.03 billion, paying an average price of $74,463 per BTC. That now brings its BTC holdings to 279,420.

Fueling Bitcoin and MSTR upside has been Donald Trump.

Remember, he wants the U.S. to become the “crypto capital of the planet” and Bitcoin the “superpower of the world.” He also wants to create a government stockpile of Bitcoin, create an advisory council, and prevent the Federal Reserve from creating its own digital currency. 

Plus, analysts believe Bitcoin could rally to $100,000+ this year. Should that happen, we wouldn’t be shocked to see MSTR closer to $400 a share.

Sincerely,

Ian Cooper