MicroStrategy Inc. (NASDAQ: MSTR) has been considered an indirect Bitcoin spot ETF due to its treasury exposure to Bitcoin (BTC). The stock market now wonders if a Bitcoin ETF approval could negatively impact MSTR stock with capital outflow.
By December 27, 2023, MicroStrategy held 189,150 BTC in its treasury – worth approximately $8.5 billion. Interestingly, MicroStrategy Bitcoin holdings already surpass MSTR’s $7.9 billion market cap on January 10.
Notably, MSTR shares slightly outperformed BTC in 2023 while showing a correlation on price action. Some experts and investors consider MicroStrategy an indirect exposure to Bitcoin, partially explaining the observed correlation.
MSTR vs. BTC daily price chart. Source: TradingView
However, the scenario changed in the last few days, with the increased expectations of a Bitcoin spot ETF approval. Bitcoin surged to as high as $48,000 as speculators started positioning themselves for an envisioned positive news.
In the meantime, MicroStrat
We współpracy z: https://finbold.com/will-microstrategy-stock-suffer-from-a-bitcoin-etf-approval/
