MicroStrategy stock to BTC ratio hits all-time high, surpassing 2021 bull run
MicroStrategys (MSTR) stock has reached a new 25-year peak amid Bitcoins potential climb towards the $70,000 mark.
Google Finance data reveals that MicroStrategys stock, bolstered by its significant Bitcoin holdings, has shown consistent upward momentum throughout the year. As of press time, MSTR has soared by 244% year-to-date and climbed 55% over the past month, reaching $235.89 as of the market close on Oct. 24.
This impressive stock performance aligns with Bitcoins recent rally. The top digital asset has gained 6% over the past month and edges closer to the $70,000 mark amid increasing institutional interest in the premier asset.
Data from the MSTR tracker unsurprisingly highlights that two key metrics have risen in tandem with these price rallies. The MSTR/BTC Ratio chart, which compares MicroStrategys stock value with Bitcoins price, hit an all-time high of 0.00346. This marks a higher level than during Bitcoins 2021 bull run.
Likewise, the NAV Premium chart shows that MicroStrategys stock is currently trading at its highest premium over its Bitcoin holdings in three years. This premium suggests the market values the companys stock at 2.783 times its Bitcoin-equivalent net asset value.
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Text source: CryptoSlate
