MicroStrategy (MSTR) Beat Bitcoin (BTC) in Impressive Returns, Stock Hits $196, 2% Away from ATH

MicroStrategy, the largest corporate Bitcoin (BTC) holder, is gaining significant attention from crypto enthusiasts not just for its continuous BTC

Bitcoin (BTC) price has struggled to gain momentum in recent months, بوت despite the ups and downs in the crypto market, BTC’s largest corporate holder, MicroStrategy, has shown consistent growth over the past four years.

On October 8, 2024, on-chain analytics firm CryptoQuant noted in an X (formerly Twitter) post that since mid-2020, MSTR has seen a significant price surge of over 1,208%, while BTC has only managed to register a gain of 445%. However, MSTR’s growth began when MicroStrategy started purchasing BTC.

MircoStrategy Beat Bitcoin 2024

The analytics firm highlighted the impressive performance of MSTR stock, which behaved like a leveraged version of BTC during the bullish phases.

“MircoStrategy's Bitcoin Holding”

Since August 2020, MicroStrategy has been on a BTC buying spree, purchasing 252,220 BTC at an average price of $39,266, totaling nearly $15.85 billion. However, with BTC currently trading around $62,250, MicroStrategy is making a profit of $22,985 per Bitcoin.

MSTR stock price is up 2% from all-time high (on amazing volume) and making a new all-time high in the next 2 days.

$MSTR technical analysis and key levels

According to expert technical analysis, MSTR appears bullish as it has broken out of a six-month consolidation zone. Since March 2024, the stock price has been consolidating in a tight range between $110 and $185.

With today's price surge of over 3.3%, it has broken out of that zone and closed a daily candle above it, which is considered a bullish signal for the MSTR holders. There is a strong possibility that the stock price may soar significantly in the coming days.

However, MSTR's Relative Strength Index (RSI) is currently in the overbought zone, suggesting a potential price correction or decline in the near future.

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