MSTR VS BITCOIN PERFORMANCE
#bulllish
Bitcoin has been on a positive momentum for the last few weeks, driven by some events including the evolving anticipation for spot Bitcoin ETF approval from the United States SEC and the Federal Reserveâs decision to suspend interest rate hikes.Â
The leading cryptocurrency is stealthily approaching $40,000 and inching towards a new high for 2023. With its price of $38,792.97, the coin is now up 11% for the monthÂ
With the volume of BTC that MicroStrategy owns, the current market situation places the firm in an impressive position with profit enough to cover the senior convertible notes debt it has accrued as some of its BTC assets were purchased with the credit.Â
In addition, MicroStrategyâs MSTR is equally performing outstandingly well in the market. According to data from MarketWatch, the stock price is now valued at $529.98 with a 0.44% per its close on Friday. This improvement is another indication that Michael Saylorâs Bitcoin strategy is a good choice.
By a large margin, the coinâs stock has outperformed its peers since it adopted its Bitcoin strategy.