MicroStrategy is becoming a Bitcoin proxy, with bullish catalysts, hitting fresh highs.

From Nasdaq

October 11, 2024 2:54:00 pm:

MicroStrategy, a software firm specializing in business intelligence and analytics solutions, went public in 1988, with McDonalds as a major client. Chairman Michael Saylor adopted the “Bitcoin Standard,” leading the company to hold over $15 billion in Bitcoin. MSTR has seen bullish Bitcoin catalysts, including historical uptrends and ETF approvals. MSTR has recently shown relative strength against other crypto proxies like Coinbase.

As MicroStrategy shifts towards becoming a Bitcoin proxy, analysts look at Bitcoin catalysts to predict MSTR’s future, including historical uptrends in October and November, FTX repayments, Bitcoin halving events, and the approval of Bitcoin ETFs. The stock has hit fresh 52-week highs with strong volume, exhibiting relative strength in the market. As the company continues its bullish trajectory, it is seen as an optimal way to participate in a potential Bitcoin breakout.

For $1, investors can access all Zacks’ buys and sells for 30 days, providing insights into portfolio services like Surprise Trader and Technology Innovators. With opportunities for double- and triple-digit gains, Zacks encourages investors to explore their recommendations. This offer aims to introduce investors to a range of high-potential investments and trades to capitalize on changing market dynamics effectively.

Read more at Nasdaq: MicroStrategy (MSTR) Breaks Out: Time to Buy the Bitcoin Proxy?