- MicroStrategy stock surged 10%, trading at $335.72, as Bitcoin’s rising value strengthens its market influence and investment returns.
- The company now holds 506,137 BTC worth $44.1 billion, with Bitcoin gains adding $3 billion to its value quarter-to-date.
- Analysts predict a $700 target by June, citing a THT Wave trigger and a falling wedge breakout pattern as support for the uptrend.
MicroStrategy’s stock price has surged following Bitcoin’s latest rally. The stock is trading at $335.72 after a 10.43% increase, adding 31.72 points. The trading range shows a day high of $336.77 and a low of $311.36, highlighting a strong upward trend.
The surge comes as global markets recover, adding $1.2 trillion in value. Besides, MicroStrategy’s recent Bitcoin purchase of $584 million significantly influenced its stock price. The company now holds 506,137 BTC, valued at around $44.1 billion.
Bitcoin Holdings Strengthen Market Position
MicroStrategy controls 2.4% of the total Bitcoin supply, making it a key player in the market. The company reported a $3 billion gain in Bitcoin value quarter-to-date. Additionally, the firm achieved a 74.3% yield from its Bitcoin holdings in 2024, further reinforcing investor confidence.
Market analysts suggest MicroStrategy’s stock may reach $700 by June. The THT Wave trigger, a historically accurate indicator, has signaled a strong bottom. Moreover, the falling wedge breakout pattern supports the possibility of a significant price surge.
MicroStrategy’s stock closely follows Bitcoin’s price movements. As Bitcoin continues its upward trajectory, investors anticipate further gains in the stock. Analysts believe maintaining this pattern could lead to a doubling of MicroStrategy’s stock price in the coming months. However, market fluctuations remain a factor in future performance.
