- MicroStrategy stock climbed more than 7% on Tuesday.
- That performance follows Monday's 4% gain.
- CEO Michael Saylor says the firm has acquired another 12,000 BTC.
- Daily chart shows MSTR has further room to run.
MicroStrategy stock (MSTR) gained another 7% on Tuesday, protecting shareholders from a worrying candlestick pattern at the start of the week. After surging as much as 15% on Monday, MSTR stock ended the day with a gain of 4% and a bearish Shooting Star Candlestick.
But Tuesday’s performance made certain that MicroStrategy is still in rally mode with shares ending the session up 7.35% at $1,593.35.
Bitcoin (BTC) dipped to $69K during the session before surging back to the area around $71K. The S&P 500, which will likely soon need to include MicroStrategy due to its market cap reaching $27 billion, gained 1.12%, while the NASDAQ did it one better at 1.53%.
MicroStrategy stock news
MicroStrategy has been rallying this week after its CEO, Michael Saylor, disclosed the purchase of approximately 12,000 Bitcoins last weekend. The company used $781.1 million from a recent sale of convertible senior notes and $40.6 million of its own cash.
The 12,000-odd Bitcoins were purchased during a two-week stretch between February 26 and March 10 and bring the company’s total ownership to 205,000 BTC. At the current price, this crypto portfolio is worth more than $14.7 billion.
It was acquired for $6.91 billion at an average purchase price of $33,706 per BTC. This makes MicroStrategy the single largest institutional holder of Bitcoin, when custodians like Coinbase (COIN), Binance and Blackrock (BLK) are excluded.
While MicroStrategy’s market cap is increasingly tied to the travails of the king of crypto, that might not be a bad place to be this year. Bitcoin will reach yet another halving event in less than two months. These events tend to drive the price of BTC higher, because each halving means Bitcoin miners receive half of the previous rewards per block, which makes it more scarce.
CoinLedger, a firm that does taxes for companies and individuals with large crypto exposure, released a report last week predicting that BTC will climb to $115K per coin six months after halving. If it did, MicroStrategy could easily double from here, even though the stock is already up nearly 160% this year alone.
Bitcoin, altcoins, stablecoins FAQs
What is Bitcoin?
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
What are altcoins?
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
What are stablecoins?
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
What is Bitcoin Dominance?
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
MicroStrategy stock forecast
MicroStrategy's daily stock chart below shows the bearish Shooting Star candlestick from Monday. That worrying candlestick was the product of an enormous spike then sent MSTR stock up some 15% on Monday only to close much lower for a 4% gain. Tuesday's Hammer candlestick, albeit not running to a new all-time high, shows that bulls haven't thrown in the towel just yet.
The Relative Strength Index (RSI) at 77, however, is quite worrying for shareholders itching to cash out.
MSTR daily stock chart
The weekly chart below, on the other hand, shows just where MSTR stock may go next. This week the share price is basing off the 261.8% Fibonacci at $1,540. If the market continues to treat this level as support for the rest of the week, then traders need to hold on for the 361.8% Fibonacci at $1,960.
Still, the weekly chart's RSI of 89 seems heavily overbought, so a pullback or consolidation phase may need to surface soon enough.
MSTR weekly stock chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

EUR/USD hits two-week tops near 1.0500 on poor US Retail Sales
The selling pressure continues to hurt the US Dollar and now encourages EUR/USD to advance to new two-week peaks in levels just shy of the 1.0500 barrier in the wake of disappointing results from US Retail Sales.

GBP/USD surpasses 1.2600 on weaker US Dollar
GBP/USD extends its march north and reclaims the 1.2600 hurdle for the first time since December on the back of the increasing downward bias in the Greenback, particularly exacerbated following disheartening US results.

Gold maintains the bid tone near $2,940
The continuation of the offered stance in the Greenback coupled with declining US yields across the board underpin the extra rebound in Gold prices, which trade at shouting distance from their record highs.

Weekly wrap: XRP, Solana and Dogecoin lead altcoin gains on Friday
XRP, Solana (SOL) and Dogecoin (DOGE) gained 5.91%, 2.88% and 3.36% respectively on Friday. While Bitcoin (BTC) hovers around the $97,000 level, the three altcoins pave the way for recovery and rally in altcoins ranking within the top 50 cryptocurrencies by market capitalization on CoinGecko.

Tariffs likely to impart a modest stagflationary hit to the economy this year
The economic policies of the Trump administration are starting to take shape. President Trump has already announced the imposition of tariffs on some of America's trading partners, and we assume there will be more levies, which will be matched by foreign retaliation, in the coming quarters.

The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.