Few years in latest reminiscence have been pretty much as good for Bitcoin (BTC) as 2024. The world’s premier cryptocurrency not solely noticed the approval of the first-ever U.S. spot BTC exchange-traded funds (ETFs) however has additionally been surging within the crypto market.
The truth is, Bitcoin worth rose 40.11% year-to-date (YTD) from roughly $44,000 to its press time worth of $61,937.
Nonetheless, one Bitcoin-related inventory has managed to outperform the world’s foremost cryptocurrency with its yearly development – Michael Saylor’s MicroStrategy (NASDAQ: MSTR) – regardless of widespread fears that the approval of BTC ETFs would dampen its correlation with the coin.
Now, with a Bitcoin surge to $100,000 showing very probably on the eve of the highly-anticipated halving occasion – an occasion that traditionally led to BTC worth rising tenfold, and generally even a hundredfold – Finbold determined to try to determine how excessive MSTR may go underneath such circumstances.
MSTR inventory worth chart
To estimate how excessive MicroStrategy may go ought to Bitcoin proceed surging, we first have to understand how a lot it has already risen in comparison with the cryptocurrency.
Maybe surprisingly – particularly provided that MSTR shares plunged 20% within the first 48 hours after the ETF approvals – Michael Saylor’s firm truly outperformed Bitcoin in 2024.
In the identical time-frame that noticed BTC rise 40.11%, MicroStrategy surged 49.29% – from roughly $685 firstly of the yr to $1,022.84 on the inventory market’s shut on February 29.
Based mostly on this, we all know that in 2024, MSTR shares rose roughly 1.23% for each 1% improve in Bitcoin worth.
How a lot may MSTR inventory surge if BTC reaches $100,000?
To achieve $100,000, Bitcoin would want to extend in worth by one other 61.58% and climb as a lot as $38.063.
Whereas such a surge would possibly seem implausibly giant at first look, it’s price remembering that, within the final 5 days alone, BTC rose as a lot as $10,000. Which means that the coin would want lower than 4 extra such bull runs – or 19 further days on the present common climbing fee – to succeed in the goal worth.
Given MicroStrategy’s slight outpacing of Bitcoin – and assuming the ratio stays stage within the foreseeable future – MSTR inventory is prone to rise 75.67% by the point BTC worth reaches $100,000 – and discover itself nearer than ever to its former all-time highs above $3,000 at roughly $1,796.82.
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