- Michael Saylor has hinted that Strategy continued buying Bitcoin last week.
- The company now holds over 761k coins after it bought 22,337 coins in the previous week.
- A top analyst hinted that the MSTR stock price will jump to $200.
Michael Saylor, the billionaire founder of Strategy, hinted that the company continued buying Bitcoin last week, possibly using STRC. This happened as a top analyst predicted that the MSTR stock price may jump to $200 in the near term.
Michael Saylor Hints at More Bitcoin Purchases
In an X post, billionaire Saylor hinted that the company continued buying Bitcoin last week. He sent an X post with the MSTR stock and orange dots. Saylor normally sends this post on Sundays ahead of the official announcement of Bitcoin purchases that normally happens on Mondays.
The most recent announcement came on Monday last week when the company announced that it acquired 22,337 coins valued at over $1.57 billion. It now holds 761,068 coins, making it the biggest Digital Asset Treasury (DAT) company in the world.
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The recent Bitcoin purchases are being funded by the at-the-money (ATM) capital raising through STRC, one of the three perpetual preferred stocks in its portfolio. In the previous purchase, the company sold 11.8 million STRK shares worth over $1.18 billion. It now has $1.9 billion available in this fund.
The company has room to continue its Bitcoin purchases. It has over $20.3 billion worth of STRK shares, and $1.6 billion and $4 billion worth of STRF and MSTR stocks available to sell.
The ongoing purchase came as a top analyst predicted that the MSTR stock price will rebound in the coming months with a target price of $200.
In a note, Texas Capital’s Randy Binner pointed to the quality and innovation of the management, its execution around the BTC per share, and the Mosaic pivot from software. If the forecast is accurate, it means that the stock will jump by 48% from the current level. The average estimate among analysts is $368, up by 171% from the current level.
Meanwhile, Bitcoin is showing some bullish fundamentals, with data showing that spot Bitcoin ETFs have added over $1.4 billion in inflows this month after having outflows in the previous four straight months. That is a sign that investors are rotating from gold assets to Bitcoin as the Iran war continued.
MSTR Stock Price Prediction: Technical Analysis
The daily chart shows that the Strategy stock price has rebounded from a low of $105 in February to the current $135. Most notably, the Supertrend indicator has turned green for the first time since October last year.
It is common for an asset to rebound whenever this indicator turns green. The stock is attempting to move above the 50-day Exponential Moving Average (EMA).
There are signs that the stock is in the accumulation phase of the Wyckoff Theory, which may lead to a strong bullish breakout in the coming weeks. If this happens, the next key target level to watch will be at $190, its highest point in January this year.
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