Crypto Analyst Claims MicroStrategy Is “On The Ropes” Amidst Bitcoin Selloff

2021-3-26 04:00

MicroStrategy and its head honcho Michael Saylor have become synonymous with Bitcoin, responsible for kicking off the corporate treasury reserve trend that’s transpired ever since.

As a result of the innovative, albeit risky move, company shares skyrocketed to revisit dot com-bubble resistance levels. The rejection, has left MicroStrategy “on the ropes” amidst the recent Bitcoin selloff, suggesting things could potentially get a lot deeper.

Michael Saylor Keeps Buying Bitcoin As Prices Plummet

Raging Bitcoin bull Michael Saylor has spent the last several months being the mouthpiece of the top cryptocurrency by market cap, essentially acting as its CEO, marketing department, corporate business development manager, and social media manager all-in-one.

He uses his platform as a way to spread the word about the cryptocurrency’s value, which he has repeatedly double, and tripled down on, and then some.

Related Reading | This Bitcoin Metric Says The Bull Market Might Soon Be Over

At the rate he’s going, the guy will have a wallet containing more BTC than Satoshi another year or so from now. Up until recently, this has been paying off dramatically for Saylor and anyone he influenced and bought BTC, as the price per coin has been rising substantially.

MicroStrategy shares went parabolic like Bitcoin | Source: NASDAQ-MSTR on TradingView.com

In tandem, the price per share of MicroStrategy (MSTR) also went parabolic, mimicking the current Bitcoin price chart.

The recent selloff and potential peak in the leading cryptocurrency by market cap, is following a similar trajectory downward after doing the same on the way up.

MicroStrategy Shares On The Ropes, Here’s Why Investors Could Be Uneasy

MicroStrategy shares are now “on the ropes,” according to one top crypto analyst.  A potential retest could be in progress, and if the attempt fails, it could be a technical knock out for the corporation’s crypto-fueled rally.

But could this also mean that sentiment is shifting enough in Bitcoin for MicroStrategy to be affected this negatively? That same theory vice versa doesn’t make sense.

Whatever the case may be, there is a chance that Saylor’s bet on Bitcoin will be right, but was still a little too soon for the cryptocurrency.

Michael Saylor's company shares were hit hard post dot com era | Source: NASDAQ-MSTR on TradingView.com

Where the recent MicroStrategy rally topped out, was at resistance dating back to the dot com bubble. When that popped, Saylor was reportedly left as one of that era’s biggest losers financially, according to Fortune Magazine. Saylor had lost a total of $13.5 billion.

Related Reading | Why March Is The Bloodiest Month In Bitcoin History

Once again, Saylor could end up losing out big due to his commitment to being a pioneer in the cryptocurrency. The bold bet in Bitcoin has paid off, but his continued push has made many investors question his speculative bet – which could be behind the correction in MicroStrategy shares in the first place.

Featured image from Deposit Photos, Charts from TradingView.com

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Источник: newsbtc.com

microstrategy bitcoin → Результатов: 126


Hedge Fund Goes Long Bitcoin, Short MicroStrategy: Details

Kerrisdale Capital, a hedge fund, today disclosed a nuanced investment thesis: going long on Bitcoin while concurrently taking a short position on MicroStrategy shares. This move is predicated on the assessment that MicroStrategy, which has positioned itself as a de facto Bitcoin investment vehicle, is trading at a significantly unjustified premium to the underlying cryptocurrency […]

2024-3-29 01:00


Brace For Impact: MicroStrategy Is Planning Another $500 Million Bitcoin Purchase

American business intelligence and software development company, MicroStrategy has unveiled new plans to acquire an additional Bitcoin, further bolstering its already substantial BTC holdings. MicroStrategy Mega Bitcoin Purchase In The Works In a recent press release published on MicroStrategy’s official website, the software development company announced plans to raise $500 million in convertible debt offerings to purchase more Bitcoin.

2024-3-14 16:00


MicroStrategy’s Bold Bitcoin Bet: A Thrilling Tale of Profit and Persistence

MicroStrategy’s steadfast belief in Bitcoin has proven to be a wise investment strategy, as the company’s significant BTC holdings have begun to yield substantial returns. Despite facing challenges such as the bear market and industry crises, MicroStrategy remained committed to accumulating Bitcoin, and their patience seems to be paying off. $200M In Profit For MicroStrategy […]

2023-7-5 09:30


1 in every 138 Bitcoins are now owned by MicroStrategy, but it doesn’t make much sense

Key Takeaways MicroStrategy has purchased another thousand Bitcoin, taking their holdings to 140,000 at an average price of $28K The total investment is now $4.2 billion, with the company’s fate tied to the Bitcoin price CEO Saylor remains ultra-bullish, but has no regard for risk management For investors, someone may as well just purchase Bitcoin […] The post 1 in every 138 Bitcoins are now owned by MicroStrategy, but it doesn’t make much sense appeared first on CoinJournal.

2023-4-6 16:35


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