Report MicroStrategy Surpasses Bitcoin Achieving Remarkable 1208 Profits

MicroStrategy, the largest corporate holder of Bitcoin (BTC), is drawing considerable interest from cryptocurrency enthusiasts not only for its ongoing BTC acquisitions but also for its remarkable returns, which have surpassed those of Bitcoin. Despite the price fluctuations caused by market uncertainty, BTC has struggled to gain momentum. In contrast, MicroStrategy (MSTR) has shown consistent growth over the last four years.

On October 8, 2024, the on-chain analytics firm CryptoQuant posted on X (previously Twitter) that since mid-2020, MSTR has experienced a significant price surge of over 1,208%, while BTC has only gained 445%. MSTR’s growth began with MicroStrategy’s BTC purchases.

Since August 2020, MicroStrategy has acquired 252,220 BTC at an average price of $39,266, totaling nearly $15.85 billion. With BTC currently trading around $62,250, MicroStrategy is profiting $22,985 per Bitcoin.

CryptoQuant has observed that MSTR behaves like a leveraged version of Bitcoin during bullish phases. In recent years, MSTR has reached several all-time highs, with its stock price rising significantly.

With an impressive price surge of over 3.3%, MSTR has reached $196.2, just 2% away from its all-time high.

Expert technical analysis indicates that 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. Today’s price surge of over 3.3% has propelled it out of that zone and closed a daily candle above it, which is considered a bullish signal for 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.