MicroStrategy's [MSTR] stock was clearly the best performer with exposure to Bitcoin's [BTC] last week.
MSTR stock jumped 34% last week and reclaimed $1500, boosted by BTC's recovery and MicroStrategy's inclusion in the MSCI Index. The rally extended into the current week and peaked at $1740, adding +4% since May 22nd.
Overall, MSTR's remarkable double-digit performance overshadowed both Coinbase [COIN] and several other Bitcoin mining stocks.
MicroStrategy stock compared to other BTC-linked stocks
MicroStrategy shares recorded a 3.6x gain over Coinbase, the largest U.S. cryptocurrency exchange, [COIN] stock when performance was adjusted on the weekly chart.
MSTR is up 22% over the past five trading days, compared to COIN's 6% over the same period.
Interestingly, collective Bitcoin mining stocks also posted notable double-digit gains but were slightly lower than MSTR during the same period.
Notably, the Valkyrie Bitcoin Miners ETF [WGMI], which tracks top BTC mining stocks, including shares of Marathon Digital [MARA], recorded a 12.8% gain over the trading period Last 5 days.
That said, MSTR has overshadowed COIN and the total number of BTC miner shares in the past 5-day trading sessions. However, it is worth noting that COIN's performance has remained relatively muted, partly due to an ongoing lawsuit with the US SEC.
MicroStrategy, under the guidance of founder and CEO, Michael Saylor, has maintained its Bitcoin strategy.
So far, in Q2, the company has added 122 BTC, bringing its total to 214,400 tokens, worth more than $15 billion based on current market prices.
Compared to the company's current total of 17.7 million shares as of May 22, its BTC per share is approximately 0.01209 BTC.
But a large number of investors have flocked to MSTR, sometimes much higher than BTC, the underlying asset they are looking to gain exposure to.
But the appeal of MSTR may be irresistible, especially compared to BTC's performance. MSTR has outperformed BTC on a weekly, monthly, and year-to-date basis (Year-to-date).
In May, MSTR increased by 55% compared to BTC's 15%. Year-to-date, MSTR's gain is over 140%, while BTC's value is +58%.
That means MSTR holders have better returns than their BTC holders. So what happens next to the MSTR price?
What's next for MSTR's price?
On the daily chart, the next key upside price targets are ATH $1999 and $2300 based on the Fib retracement tool (yellow). The bullish readings on the RSI (Relative Strength Index) show that the above bullish targets are feasible.
However, although MSTR outperforms BTC on the price chart, a pullback in the king coin could erase some of the stock's gains.
At the time of writing, BTC is down slightly below $70k after hitting a high at $71k, while MSTR trades at $1650. MSTR's next rally could be derailed if BTC extends the retracement.
Source: https://tintucbitcoin.com/mstr-ha-gia-bitcoin-co-phieu-declared-thac-btc-other/
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