MicroStrategy, the largest corporate Bitcoin holder, continues to draw attention not only for its continuous acquisitions of cryptocurrency but also for its consistent stock growth.

Phenomenal Success of MSTR

On October 8, 2024, on-chain analytics firm CryptoQuant announced on X (formerly Twitter) that since mid-2020, MicroStrategy's stock (MSTR) has increased by over 1,208%, while Bitcoin has only gained 445%.

MicroStrategy's Bitcoin Holdings

Since August 2020, MicroStrategy has acquired 252,220 BTC at an average price of $39,266, totaling nearly $15.85 billion. With BTC currently priced around $62,250, the company profits by $22,985 per Bitcoin. MSTR acted like a leveraged version of Bitcoin during the bullish phase.

MSTR Technical Analysis and Key Levels

Technical analysis indicates that MSTR is bullish, having broken out of a six-month consolidation zone. Since March 2024, the stock price has been in a range between $110 and $185. With the recent surge of over 3.3%, MSTR has moved beyond this range, considered a positive signal for its holders.

Despite the current optimism around MicroStrategy's stock, potential price correction risks exist as indicated by the overbought Relative Strength Index (RSI).