According to analysts, shares of Bitcoin investor MicroStrategy may have gained more value than they should this year.
As a result of the research conducted by 10x Research using the regression model, MicroStrategy (MSTR) shares 27% overvalued announced.
In the research based on the relationship between MSTR and Bitcoin’s spot price, “As seen in the regression model, MicroStrategy is +26% overvalued and has 20% downside in line with current Bitcoin prices. Snow “It’s time to take it.” comment was made.
MicroStrategy, founded by Michael Saylor, increased its reserves by purchasing $615.7 million worth of Bitcoin the other day. to 189,150 BTC took it out.
MicroStrategy is among the stocks linked to the cryptocurrency industry this year, according to TradingView data one of the best performers happened. MSTR in the last six months 91%, 360% since the beginning of the year appreciated.
When some institutional investors do not want to invest directly in Bitcoin MicroStrategy, Coinbase It can invest in companies closely linked to the cryptocurrency industry, such as. The chart below shared by 10x Research shows the relationship between Bitcoin price and MSTR. There is a positive relationship is showing.
