Odaily News Ryan Rasmussen, chief investment strategist at Bitwise, said in an interview that MicroStrategy (MSTR) stock's performance in the traditional financial (TradFi) market is similar to that of altcoins in the crypto market.
Rasmussen pointed out that MicroStrategy's stock price is highly correlated with Bitcoin, but with greater volatility, which is similar to the volatility of altcoins in the crypto market compared to Bitcoin. He emphasized that although MicroStrategy is classified as a technology stock or software company in the traditional market, it has essentially become a highly leveraged Bitcoin investment tool.
In addition, MicroStrategy's recently disclosed financial report shows that the total amount of Bitcoin it holds has exceeded 200,000, with a total value of approximately US$16 billion. The company continues to increase its holdings of Bitcoin through debt financing and convertible notes, making its stock one of the alternative investment targets for crypto assets. (The Block)