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10x Research: Despite the leverage risk, the market overall remains optimistic about MicroStrategy's hodl strategy
BlockBeats News, July 15th, 10x Research published an article stating, "MicroStrategy's (MSTR) current stock price is above the 7-day moving average and the 30-day moving average, showing a bullish trend on the technical front, with a 11.6% gain in the past week. The company purchased 4,225 bitcoins for $4.725 billion, increasing its total holdings to 601,550 bitcoins.
This acquisition was completed through a stock issuance financing, further strengthening market confidence in its Bitcoin strategy, leading to a 3.5% stock price increase. MicroStrategy, as a significant institutional player in the Bitcoin space, is currently benefiting from the market's growing institutional demand for Bitcoin, providing additional support to its stock price.
Despite concerns from the market about its leveraged bitcoin position of up to $71 billion, the overall market has responded positively to its aggressive purchasing strategy."
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