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10x Research: MicroStrategy stock is overvalued by 26%, recommend taking profits

10x Research: MicroStrategy stock is overvalued by 26%, recommend taking profits

Bitget2023/12/28 07:18

According to Marcus Tullius, who predicts the rise of Bitcoin this year at 10x Research, suggests that investors may want to know the trend of business intelligence company MicroStrategy's stock after it has risen by 343% this year. According to 10x's latest research report, MSTR stock seems to be overvalued by 26%. This conclusion is based on the company's regression model, which examines the relationship between the dependent variable MSTR and the independent variable BTC spot price. 10x states: "The regression model shows that MicroStrategy is overvalued by 26%, with a downside potential of 20% based on current Bitcoin prices. Now is the time for profit-taking." As of writing, NASDAQ-listed company MSTR holds 189,150 BTC and started using cryptocurrency as a reserve asset three years ago. Bitcoin, as the largest cryptocurrency by market capitalization, has risen by 160% this year alone and its price has increased by 60% in just this quarter mainly driven by narratives around spot ETFs.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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