Microstrategy’s Remarkable 89% YTD Surge Linked to Bitcoin’s Bullish Market,
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The Microstrategy stock is set to surge as the BTC price is seeing bullish signs, as per Lance Vitanza, a TD Cowen analyst. The Business intelligence and Software company holding a significant amount of BTC is currently up 89% year-to-date. Vitanza believes that if the BTC spot ETFs are seen getting more purchases, it might depict high institutional interest driving the BTC price further. Vitanza thinks the SEC’s likely disapproval of the Ethereum ETFs could also be a positive sign for BTC and Saylor’s Microstrategy. Bitcoin is up by 43% since the year’s start and is currently trading at $64,192.
