MicroStrategy, a prominent corporate Bitcoin holder, has been attracting attention from crypto enthusiasts for its impressive returns that have outperformed Bitcoin. Despite the volatility in the market, Bitcoin has struggled to gain momentum while MicroStrategy (MSTR) has shown consistent growth over the past four years.
MircoStrategy Beat Bitcoin
According to on-chain analytics firm CryptoQuant, since mid-2020, MSTR has seen a price surge of over 1,208%, surpassing Bitcoin’s gain of 445%. This growth coincided with MicroStrategy’s decision to start purchasing BTC.
MircoStrategy’s Bitcoin Holding
MicroStrategy has acquired 252,220 BTC since August 2020 at an average price of $39,266, totaling nearly $15.85 billion. With BTC currently trading around $62,250, MicroStrategy is making a profit of $22,985 per Bitcoin. The company’s stock price has seen significant growth as a result of its Bitcoin holdings.
With a price surge of over 3.3%, MSTR has reached $196.2, coming close to its all-time high.
MSTR Technical Analysis and Key Levels
Technical analysis indicates that MSTR is bullish after breaking out of a six-month consolidation zone. The stock price had been consolidating between $110 and $185 since March 2024. Today’s surge of over 3.3% and closing a daily candle above the consolidation zone signal a bullish trend for MSTR.
Although MSTR is currently in the overbought zone according to the Relative Strength Index (RSI), suggesting a potential price correction, the overall outlook remains positive for MicroStrategy’s stock.