MicroStrategy (MSTR) stock has hit a 25-year high as Bitcoin looks set to climb towards the $70,000 level.
Data from Google Finance shows that MicroStrategy's stock price has shown consistent upward momentum throughout the year, supported by its large Bitcoin holdings. At the time of writing, MSTR has soared 244% since the beginning of the year and 55% in the last month, reaching $235.89 as of market close on October 24th.
This impressive stock performance is consistent with Bitcoin's recent rally. The top digital asset has risen 6% over the past month and is approaching the $70,000 level as institutional investor interest in the top asset increases.
Data from the MSTR tracker unsurprisingly highlights that two key indicators are rising in parallel to these price increases. The MSTR/BTC ratio chart, which compares MicroStrategy's stock price and Bitcoin price, hit an all-time high of 0.00346. This represents a higher level than Bitcoin's 2021 bull market.
Similarly, the “NAV Premium” chart shows that MicroStrategy's stock is currently trading at its highest premium to its Bitcoin holdings in three years. This premium suggests that the market values the company's stock at 2.783x its Bitcoin-equivalent net asset value.
