Bitcoin Pullback Weighs on Crypto Stocks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy MSTR?
Source: stocktwits
- Bitcoin Price Fluctuation: Bitcoin's price retreated to $68,000, down from nearly $70,000 on Monday, leading to a broad decline in crypto-linked stocks during Tuesday's pre-market trading, reversing Monday's gains and indicating fragile market sentiment.
- MSTR Holdings Update: MicroStrategy (MSTR) announced the purchase of 4,871 BTC, bringing its total holdings to 766,970 BTC, after a 6% rise on Monday; however, its stock fell over 1% in pre-market hours, reflecting a shift in investor sentiment to 'bearish'.
- BMNR's Buying Activity: Bitmine Immersion Technologies (BMNR) executed its largest weekly purchase of 71,252 ETH this year, resulting in a 5% increase on Monday, but its stock dropped over 1% in pre-market trading, raising concerns about future performance.
- ASST Holdings Increase: Strive Asset Management (ASST) increased its holdings by purchasing 113 BTC, bringing its total to nearly 14,000 BTC, and saw a 3% rise on Monday; however, its stock fell by 0.20% in pre-market hours, indicating a lack of confidence in its growth potential.
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Analyst Views on MSTR
Wall Street analysts forecast MSTR stock price to rise
14 Analyst Rating
12 Buy
2 Hold
0 Sell
Strong Buy
Current: 123.720
Low
229.00
Averages
453.17
High
705.00
Current: 123.720
Low
229.00
Averages
453.17
High
705.00
About MSTR
Strategy Inc., formerly MicroStrategy Incorporated, is a bitcoin treasury and business intelligence company. The Company provides cloud-native, artificial intelligence (AI)-powered enterprise analytics software to thousands of global customers. The Company’s Strategy ONE platform provides access to AI-powered workflows, unlimited data sources, cloud-native technologies, and performance to speed up time from data to action. Strategy One delivers visualization, reporting, and embedded analytics capabilities across retail, banking, technology, manufacturing, insurance, consulting, healthcare, telecommunications, and the public sector. Its Strategy Mosaic is a universal intelligence layer that provides enterprises with consistent definitions and governance across data sources, regardless of where that data resides or which tools access it. The Strategy Mosaic offers data clarity and connection by eliminating trade-offs between flexibility, control, and speed.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Crude Oil Price Plunge: The ceasefire news led to a more than 15% drop in crude oil prices to a 1.5-week low, alleviating inflation concerns and sparking a rally in global government bond markets, with the German 10-year Bund yield falling to a 3-week low, reflecting market expectations of a potential economic slowdown.
- US Treasury Yields Decline: The 10-year US Treasury yield fell to 4.228%, a 3-week low, as concerns over inflation eased, indicating increased demand for safe-haven assets, while also supporting the upcoming $39 billion auction of 10-year notes.
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