MSTR Stock price is once again in focus as the market approaches the final trading days of February. Stocks have rebounded well since their low point in the first month of the year, and are up nearly 30% since dropping so sharply. Despite this rebound, the broader trend remains fragile.
MSTR remains weak in the longer term, with a decline of almost 15% in a month and over 60% in three months. The recent purchase of Bitcoins in the company has provided new focus to the company strategy in a time when things have become volatile in the market.
MSTR Stock Price Moves Lower Amid Strategy Executing 100th Bitcoin Acquisition
MicroStrategy confirmed its 100th Bitcoin purchase, continuing a strategy launched in August 2020. Between February 16 and 22, the company purchased 592 BTC at a cost of 39.8 million at an average rate of 67,286 per coin.
According to an SEC filing, the company financed this acquisition by selling 297,940 common shares, with a net proceeds of $39.7 million.
This new addition has put MicroStrategy at 717,722 BTC. This huge treasury was obtained by the company at a cost of 54.56 billion in total. The mean price of purchase is currently at $76,020 per coin.
The milestone further establishes the company as the largest corporate owner of Bitcoin in the world, a significant distance ahead of its main competitors, including the mining company Mara Holdings.
Crypto Market Conditions Add Pressure to MSTR
The broader crypto market declined 2.22% in the past 24 hours, falling to a valuation near $2.26 trillion. The fall was after a tariff-led sell-off that burdened risk assets. Bitcoin price fell by 3% to $65,646, throwing a fresh wave of volatility to MSTR.
MSTR price is trading at around 126.45, a fall of 3.51% today. The stock has been resilient but is still vulnerable to the weakness of Bitcoin and changing investor appetite.
MSTR Stock Price Prediction: Will MicroStrategy Rebound to $150 This Week?
MSTR is hovering at a critical support level of $120 to $130. An upsurge out of this range would push the stock up to the resistance point of $150.
Any daily close below $118-$120 would be an indication of decreasing strength. This action will cause selling pressure and drive MSTR to $110.
When Bitcoin price returns to a robust upward trend, MSTR may look to various higher resistance levels. An established break of over $150 would open up to $170. That area is in line with a prior consolidation area and can be profitable to take. An extended press up to $170 would position an approach of $180.