$100K Or $1 Million: At What Price Are Bitcoin Holders Likely To Sell?
Portfolio Pulse from Chris Katje
Bitcoin's price surge in 2023 has prompted MicroStrategy Inc (NASDAQ:MSTR) to purchase an additional 16,130 BTC, bringing its total holdings to 174,530 BTC. MicroStrategy's chairman, Michael Saylor, conducted a Twitter poll to gauge at what price Bitcoin holders would consider selling. The poll showed that 36.3% of respondents would sell at $1 million or never. Analysts see potential catalysts for Bitcoin, including the approval of Bitcoin ETFs and the upcoming halving event in 2024. Ark Funds CEO Cathie Wood has a price target of $1 million for Bitcoin. MicroStrategy's stock has risen over 290% year-to-date in 2023.
December 08, 2023 | 1:51 pm
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POSITIVE IMPACT
MicroStrategy Inc has significantly increased its Bitcoin holdings and its stock has seen a substantial rise year-to-date in 2023. The company's aggressive investment in Bitcoin and the positive sentiment from a Twitter poll could influence its stock price.
MicroStrategy's stock price is closely tied to the price of Bitcoin due to its large holdings. The company's continued investment and the optimistic outlook from the Twitter poll suggest a positive sentiment that could further boost the stock price in the short term. Additionally, the anticipation of potential catalysts for Bitcoin, such as the approval of Bitcoin ETFs and the halving event, could also contribute to a bullish outlook for MicroStrategy's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100