MSTR/ BTC Hits All-Time-High Ahead of MicroStrategy’s Q3 Earnings Report

The stock of MicroStrategy (MSTR) recorded a strong surge at the start of Friday's trading session, jumping from around $235 to $245, reaching the highest level in the past 25 years, according to data from Google Finance. This breakout occurred ahead of the company's Q3 earnings report, expected to be released next Wednesday. At the time of the report, MSTR stock had adjusted down to around $234, but still maintained a superior position compared to the S&P 500 index. According to the data, MicroStrategy stock has increased by 242% since the beginning of the year, while the S&P 500 has only risen by around 37% during the same period. Over the past five years, MicroStrategy's stock price has increased by 1,588%, far exceeding the 94.18% profit of the S&P 500. The company's stock tends to move in parallel with the cryptocurrency market, particularly Bitcoin, due to the close relationship between MicroStrategy and the largest cryptocurrency asset. The MSTR/BTC tracking tool shows that this ratio has reached an all-time high of 0.354, indicating that MicroStrategy's stock is performing better than Bitcoin. The company's net asset value (NAV) has also grown, with the NAV spread reaching nearly 3, the highest level since the beginning of 2021. Bitcoin has risen back above $68,000 early Friday morning, approaching the $69,000 level, although it has subsequently adjusted down below $66,000. The MSTR stock is currently about 23% away from its previous all-time high of $313 in March 2020, with a market capitalization of around $44 billion. If MicroStrategy's investment strategy in Bitcoin continues to be successful, the stock price may reach new highs in the future. Since implementing this strategy, MicroStrategy has seen its stock outperform Bitcoin. The company is currently the world's largest institutional holder of Bitcoin, with over 252,000 BTC worth around $17 billion at the current price. MicroStrategy has no plans to sell these Bitcoins, but instead intends to accumulate more through various financial methods. As the amount of Bitcoin held by the company increases, their ambitions also grow larger. CEO Michael Saylor has shared a vision of transforming MicroStrategy into a leading Bitcoin bank, with a potential valuation of thousands of billions of dollars through capital market strategies in the United States.