Microstrategy bitcoin (BTC) correlation: the stock up 7% in 24 hours!

Microstrategy, founded by bitcoin (BTC) maximalist Michael Saylor, may well be nearing new heights. After many difficult months, the company takes a leap forward and the stock price soars following a statement from Berenberg. What if bitcoin’s upcoming halving is the key to MSTR’s price explosion?

A projection of Berenberg Capital Markets and Microstrategy’s stock soars

Predictions are the very forte of the crypto ecosystem and when they are positive, they can only be welcome. After a relatively difficult time for Microstrategy, a statement from Berenberg Capital Markets is a game-changer. According to a research note from the investment bank, the upcoming bitcoin halving could lead to a rally.

And this rally, of course, will affect Microstrategy’s share price. In the note Shared with The Block, Berenberg thinks the software company’s huge crypto wallet could influence the price of MSTR. Indeed, the investment bank estimates that Microstrategy’s share price will hit an 18-month high and hover around $430.

Michael Saylor and BTC, a long-term love affair

Michael Saylor, the founder of Microstrategy is a firm believer in bitcoin (BTC), even when the market is unstable. Despite the bear market, the investor remained optimistic and if Berenberg’s projection materializes, it would only be fair.

Nevertheless, before that happens, Microstrategy is already profiting from BTC. Currently, the stock is trading around $407, and is up 7% in the last 24 hours. This trend suggests that Microstrategy shares are reacting to the price action of bitcoin (BTC).

While Berenberg’s projection looks uncertain, a report released Monday by Standard Chartered joins that of the investment bank. For the British banking giant, in addition to the bullish movement from Microstrategy, the flagship crypto could also break all records. Indeed, he believes that bitcoin (BTC) should hit the 130,000 mark by the end of the year.