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10x Research: Market Bullish on MicroStrategy's Increased Holdings Strategy Despite Leverage Risks
Summary: According to 10x Research, MicroStrategy's (MSTR) current stock price is above the 7-day and 30-day moving averages, showing a bullish trend on the technical side, with a 11.6% increase in the past week. The company purchased 4,225 bitcoins for $472.5 million, increasing its total holdings to 601,550 BTC. This increase in holdings was completed through ...
According to 10x Research, MicroStrategy's (MSTR) current stock price is above the 7-day and 30-day moving averages, showing a bullish trend on the technical side, with a 11.6% increase in the past week. The company purchased 4,225 bitcoins for $472.5 million, increasing its total holdings to 601,550 BTC.
This increase in holdings was completed through stock issuance financing, further strengthening market confidence in its bitcoin strategy and pushing the stock price up by 3.5%. As a key player in the bitcoin field, MicroStrategy is benefiting from the increasing institutional demand for bitcoin, providing further support for its stock price.
Despite concerns about its leveraged bitcoin position of up to $71 billion, the market overall is reacting positively to its aggressive increased holdings strategy.
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Link: 10x Research: Market Bullish on MicroStrategy's Increased Holdings Strategy Despite Leverage Risks [Copy]
