Now that investors across markets notice the potential for inflation trades returning to popularity, a decent amount of capital is beginning to float into risk assets like commodities and cryptocurrencies like. This new sentiment has driven the price of gold to its all-time high recently and also caused Bitcoin to deliver a 13% return over the past month alone.
At today’s Bitcoin price of $71,800, MicroStrategy’s book value can be assumed to be up to $16.3 billion, driving the stock’s book value higher. In terms of book value, markets recognize that this stock has much more upside than others in the technology sector. This view calls for a net upside of 16% from where the stock trades today, not to mention a new high for the year.When assets start to present more bullish price action and momentum for investors, more capital tends to flow into those same assets, as several participants tend to chase momentum for further runs. This means that, as Bitcoin rallied by over 10% in a week, more trading activity might be expected in the asset class.
Backing up these double-digit upside runs today, analysts project up to $1.34 in earnings per share for the next 12 months, a massive jump from today’s $0.14 in earnings. This also justifies the recent institutional buying from those at Atomi Financial Group, who boosted their stake by 1.3% recently to bring their net position to $57.9 million today.
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