Steno Research: MicroStrategy's Bitcoin holdings are nearly 300% premium, but hard to sustain
The report from Steno Research indicates that MicroStrategy's Bitcoin holdings are nearly 300% premium, but it is difficult to sustain. Analyst Mads Eberhardt stated that the recent stock split effect of MicroStrategy is weakening, and the launch of US spot Bitcoin ETF options will reduce investors' demand for the company's stocks.
In addition, the report mentioned that during the crypto bull market in 2021, the company's premium mostly remained below 200%. As regulatory environment becomes increasingly friendly towards Bitcoin and cryptocurrencies, investors may prefer to hold Bitcoin directly rather than MicroStrategy stocks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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