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MicroStrategy Inc. (NASDAQ:MSTR) continues its upward sprint, hitting a 52-week high of $236.29 during Thursday trading as investors rally behind the stock.
The stock’s meteoric rise – up 55% in the past month and 244% year-to-date – signals renewed investor confidence in the company’s strategic mix. Bitcoin (CRYPTO:BTC) investments and AI-powered software improvements. Over the past year, MicroStrategy is up a whopping 444%, and many are betting this momentum will continue.
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An important driver of optimism comes from BlackRock Inc (NYSE:BLK), which recently increased its stake in MicroStrategy to 5.2%, essentially placing a bigger bet on the company’s unique positioning as a gateway for institutional investors to gain Bitcoin exposure.
With Bernstein analysts predicting that Bitcoin could reach $200,000 by the end of 2025, it appears that BlackRock is optimistic about the long-term prospects for both crypto and MicroStrategy.
Yet not everyone is celebrating. Well-known Bitcoin critic Peter Schiff has made headlines again, calling MSTR “the most overvalued stock in the MSCI World Index.” Schiff warns that when stocks finally crash, it will be a “real bloodbath.”
Schiff is known for his advocacy of gold over Bitcoin and has long argued that crypto lacks the intrinsic value needed to sustain current valuations. His sharp criticism adds a dose of skepticism to an otherwise optimistic story.
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On the technical front, all signs point to further upside potential for MicroStrategy stock.
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The stock is currently trading well above its eight-, twenty- and fifty-day simple moving averages, reflecting strong buying pressure and a bullish trend that shows no signs of weakening.
With a share price of $235.89, MicroStrategy’s stock’s eight-day simple moving average is $210.78, indicating continued strength. Likewise, the 20-day moving average is $193.16, and the 50-day SMA is $159.06, indicating that momentum is solid.
The long-term trend is equally bullish. MicroStrategy’s 200-day simple moving average is $134.65, well below the current share price.
The Moving Average Convergence Divergence (MACD) indicator is at 18.66, another indicator of a buy signal, while the Relative Strength Index (RSI) is 73.13, indicating that the stock is in overbought territory.
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Despite some warning signs – such as the RSI indicating possible overheating – the overall outlook for MicroStrategy remains positive, at least for now. The company’s dual focus on Bitcoin and enterprise AI is winning over institutional players like BlackRock, while skeptics like Schiff continue to warn of an impending collapse.
Will BlackRock’s confidence prove wise, or is Schiff’s doomsday prediction just around the corner? For now, the MSTR is flying high, but in the wild world of Bitcoin, things can change in a flash.
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This article MicroStrategy Moves Forward as BlackRock Buys, But Peter Schiff Sees a Crash Ahead originally appeared on Benzinga.com
