MicroStrategy’s Current Premium Relative to Its Bitcoin Stack Is Unlikely to Last: Steno Research

Coindesk
28 Oct 2024
  • MicroStrategy's almost 300% premium to its bitcoin holdings is unsustainable, the report said.
  • The positive effects of the company's recent stock split are wearing off and the launch of options on spot bitcoin ETFs will also lessen demand, Steno said.
  • The report noted that during the 2021 crypto bull market MicroStrategy's premium hovered below 200%.

MicroStrategy's (MSTR) current premium relative to its bitcoin (BTC) stack is unlikely to last, Steno Research said in a report Friday.

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